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While the price of homes, cars and food has been soaring over the last ten years, the cost of cruise holidays has been falling, according to new research.

A study carried out by P&O Cruises has revealed that the average cost of a two week cruise currently stands at £1,579 per person, compared to £2,520 in 1998.

Commenting on the findings, Nigel Esdale, managing director of P&O Cruises, said: "The cumulative inflation rate between May 1998 and May 2008 is 32 per cent, so if cruise holidays had increased accordingly, then our prices should be more than double those in this summer’s brochure.

"In actual fact, this year’s prices are more than £900 cheaper per person, almost £2,000 cheaper for a couple than ten years ago."

Mr Esdale pointed out that cruise holidays often include flights, accommodation, entertainment and food, leaving very little to be paid out in extras.

Cruise holidays also offer people the opportunity to try out a whole range of unusual activities, with everything from circus lessons to bungee trampolining available on today’s ships.

Meanwhile, a recent study carried out by Cruise Critic revealed that the nation’s top three cruise ships are Royal Caribbean’s Independence of the Seas, P&O CruisesVentura ship and Cunard’s Queen Victoria.

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