The Tooth Fairy is also feeling the pain of high inflation.
The average amount of cash kept under the pillow by the Tooth Fairy (spoiler alert: parents) fell to $5.84 in 2023, down 6% from $6.23 the previous year and the first decline since 2018. . According to a study conducted by insurance company Delta Dental.
Even the first loss of a tooth, which usually yields a larger award, is no longer as lucrative as it once was, the study found.
A survey of 1,000 parents of children between the ages of 6 and 12 found that the average gift for missing a first tooth was $7.09 last year, down from $7.29 in 2022.
Children living in the western United States have won the biggest jackpot.
The average price of a missing tooth in the West was $8.54, an increase of 37% compared to 2022.
In the northeastern United States, average values rose 12%.
The Tooth Fairy was even more dire in the South and Midwest.
In the Midwest, the value of a missing tooth fell 36% to $3.63. In the South, the value fell to $5.51 per tooth.
The poll noted that while Tooth Fairy gifts have traditionally tracked the S&P 500 index, that trend has faltered over the past two years.
In 2022, the Tooth Fairy hit an all-time high of $6.23, up 16% year over year. Meanwhile, that same year, the S&P 500 was underwhelmed, dropping 18% in value.
The Tooth Fairy was a little more stingy last year, but the S&P 500 rebounded with a 24% gain. This is a sign of the resilience of the economy, which has been hampered by high interest rates and soaring inflation levels.
