Tooth fairy hit by inflation as children find over £1 under the pillow

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While their parents received around 27p per tooth, today's children wake up to an average £1.05p, according to savings experts.

That works out at £20 million a year, a 500 per cent rise over 25 years compared to inflation which has risen 125 per cent, says the Children's Mutual.

They calculate that today's youngsters could net a total of £21 from wobbly incisors and molars – a great deal more than the £3.40 their parents received when they lost their teeth.

For roughly one in 12 gaptoothed youngster, losing 20 teeth between the ages of six and 11 could earn them more than £40.

David White, chief executive of the Children's Mutual, said tooth fairy inflation comes close to that of house prices which have leapt by more than 600 percent n the past 25 years.

"The generosity of the tooth fairy has accelerated rapidly and shows no signs of abating," he added.

There is a silver lining for parents, according to Mr White. Tooth bonuses help teach children the value of money

The study found seven in ten children talk about money and savings with their parents, 73 per cent have a piggy bank and 44 per cent of seven-year-olds play shopping games at home.

"Teaching the value of money is often difficult but the tooth fairy is on hand to help," Mr White added.