Even the tooth fairy is feeling the pain of high inflation.
The average amount of cash left under the pillow by the tooth fairy (spoiler alert: parents) dropped to $5.84 in 2023, 6% lower than the $6.23 the previous year — the first time decline since 2018, according to a survey conducted by insurer Delta Dental.
Even the loss of a first tooth, which usually elicits a more lucrative award, wasn’t as profitable as it once was, the survey found.
Last year, losing a first tooth resulted in an average gift of $7.09 — down from $7.29 in 2022, according to the survey, which polled 1,000 parents of children between the ages of 6 and 12.
Kids living in the western part of the United States scored the biggest bonanza.
The average value of a lost tooth in the West was $8.54 — a 37% increase compared to 2022, when the value was $6.23.
In the Northeastern US, the average value rose 12% from $6.14 to $6.87.
The tooth fairy was more miserly in the South and Midwest.
In the Midwest, the worth of a lost tooth fell 36%, dropping from $5.63 to $3.63. In the South, the value dropped to $5.51 per tooth from its 2022 mark of $6.59 — a 16% decrease.
The poll noted that the tooth fairy’s gift has traditionally tracked with the S&P 500, but that trend has been bucked the last two years.
In 2022, the tooth fairy’s dropped off a record high of $6.23 — up 16% from the year before. Meanwhile, the S&P 500 underwhelmed that same year — dropping 18% in value.
Last year, the tooth fairy was a bit more stingy, but the S&P 500 roared back with 24% gains — a sign of the resilience of an economy that has been hampered by high interest rates and soaring levels of inflation.
A posse of European leaders will join the meeting between Donald Trump and Volodymyr Zelenskyy in Washington.
European Commission President Ursula von der Leyen said she will join the talk “at the request of President Zelenskyy”, adding that she “and other European leaders” will be meeting at the White House on Monday.
Also set to join in are Sir Keir Starmer, German Chancellor Friedrich Merz, France’s Emmanuel Macron, Italy’s Prime Minister Giorgia Meloni, NATO Secretary General Mark Rutte and Finnish President Alexander Stubb.
Mr Stubb’s friendship with Mr Trump is said to have blossomed since the pair bonded over their love of golf during a tournament at Mar-a-Lago in March.
Image: Donald Trump and Finland’s President Alexander Stubb during a golf tournament at Mar-a-Lago. Pic: Finnish Presidential Office/Reuters
Mr Stubb previously said that Mr Trump is “the only person who can broker a peace” deal, saying the US president was “the only one that Putin is afraid of”.
Bringing a gang of leaders along could be an attempt by Mr Zelenskyy to prevent a repeat of the infamous Oval Office showdown with Mr Trump and the vice-president, JD Vance, in February.
Image: Zelenskyy and Trump during their exchange in the Oval Office. Pic: Reuters
They were set to discuss a potential ceasefire with Russia and a mineral deal between Ukraine and the US, but their meeting descended into chaos when Mr Vance berated Ukraine’s leaderfor being insufficiently grateful for US help – in front of the media.
He completed his ambush of Mr Zelenskyy by mocking him for not wearing a suit, with Mr Trump adding that the Ukrainian didn’t “have the cards right now with us”.
The disastrous meeting ended with Mr Zelenskyy prematurely leaving the White House. He later said the bust-up was “not good for both sides”.
Image: Volodymyr Zelenskyy and Donald Trump argued in the White House. Pic: Reuters
At the US-Russia summit on Friday, Mr Trump (quite literally) rolled out the red carpet for Mr Putin and even let the Russian leader take a ride with him in the presidential limousine dubbed The Beast.
Mr Zelenskyy is set for a less warm welcome, with no red carpet or fly past, no round of applause, according to Sky News’ US correspondent Martha Kelner.
The atmosphere may be more businesslike with European leaders like Mr Stubb in Mr Zelenskyy’s corner, and their inclusion as mediators could help prevent a repeat of the Oval Office clash.
Image: Mr Putin and Mr Trump greet each other on the red carpet in Alaska. Pic: Gavriil Grigorov/Sputnik/Pool/EPA/Shutterstock
Mr Stubb has repeatedly voiced support for Ukraine, and Finland, along with other Nordic countries and the three Baltic states, has been among the country’s staunchest supporters.
The 2022 invasion prompted Finland, which shares a 1,340-km (833-mile) border with Russia, to join NATO two years ago, upending decades of non-alignment.
Two days before the Alaska summit, Mr Zelenskyy, Mr Trump and European leaders, including Mr Stubb, were on a conference call, after which the Finnish leader wrote on X: “Excellent meeting with @Potus and European leaders, including @ZelenskyyUA. Aligned views and unity.
“We are working together for a ceasefire and a sustainable peace. We are there for Ukraine every step of the way. The next few days and weeks can be decisive.”
Retired French General Dominique Trinquand, a former head of France’s military mission at the United Nations, said European leaders were “very afraid of the Oval Office scene being repeated and so they want to support Mr Zelenskyy to the hilt”.
“It’s a power struggle and a position of strength that might work with Trump,” he added.
Sir Keir Starmer will be accompanying Ukrainian president Volodymyr Zelenskyy to Washington tomorrow for his crunch meeting with Donald Trump.
He will join European leaders including France’s president Emmanuel Macron, Italy’s PM Giorgia Meloni and Germany’s Chancellor Friedrich Merz.
Also set to attend the talk at the White House are NATO Secretary General Mark Rutte and Ursula von der Leyen, the president of the European Commission.
This comes after the US president reportedly extended an invitation to them.
European leaders who make up the “coalition of the willing” are set to hold a conference call today ahead of the crunch talks between Mr Trump and Mr Zelenskyy, which some coalition members are set to attend.
This breaking news story is being updated and more details will be published shortly.
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