NEW YORK (AP) -- Consumers are expected to only slightly increase their holiday budgets for items like decor, greeting cards, and gifts this year compared with a year ago, the nation's largest retail trade group says.

The National Retail Federation says shoppers are expected to spend $749.51 in November and December. That's slightly up from the $740.57 they spent last year.

This year's expected level is the highest since 2007, when shoppers spent on average $755.13. The predictions are based on a survey of almost 9,000 shoppers conducted for the trade group by research firm BIGinsight from Oct. 2 through Oct. 8.

The retail trade group announced earlier this month that it expects sales in November and December to rise 4.1 percent this year. That's more than a percentage point lower than the growth in each of the past two years, and the smallest increase since 2009 when sales were up just 0.3 percent.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.