A NEW report claims the average spend on Halloween costumes, sweets, decorations and parties totals £162 per family.

October 31 is increasingly becoming an occasion for families and friends to spend time together, with almost half of the nation’s adults, 46 per cent, planning on celebrating this year with parties, costumes and trick or treating.

But a pumpkin and a handful of sweets no longer cuts it as families will rack up an average bill of £162 for the full Halloween experience, according to research by credit card company Capital One.

The bill mounts up with an average £36 spent on adults’ costumes, £32 on kids’ outfits, £18 on sweets or treats for trick or treaters, £43 on parties and £33 on decorations to make the house look spooky.

Nearly two-thirds (62 per cent) of parents say their children will be donning costumes and half (51 per cent) will go trick or treating.

However, thrifty families are slashing the cost and hacking the bill down to size as eight per cent of adults said they will make their own costume, 12 per cent will reuse an existing outfit and seven per cent will borrow one from a friend. Just four per cent plan to make their child’s outfit themselves.

Sally Camm, brand director at Capital One, said: “Halloween is growing in popularity every year with families really getting into the spirit of the night.

"But if you don’t want to be haunted by the bills it makes sense to set a budget and stick to it. Making your own costumes and decorations can save a lot of cash while face paints are inexpensive and can look really effective.”

Top ten Halloween costumes for adults 2014:

Witch
Vampire
Zombie
Where’s Wally?
Animal
Skeleton
Uniform
Clown
Pirate
Celebrity

Top ten Halloween costumes for children 2014:

Werewolf
Witch
Wizard
Pumpkin
Military uniform
Vampire
Monster
Zombie
Angel
Devil