The Halifax says the cost of raising a child in Wales to the age of 11 now stands at £76,600.
Across the UK childcare is by far the biggest outlay, costing parents £3,840 a year on average. This is eating into households budgets, with prices rising by 3% or more than £100 compared with a year ago.
Other major expenditures include food (£960), holidays (£748) and schooling (£511).
As a result of rising costs, half of parents surveyed by Halifax have had to cut back on going out to socialise with friends, while just under half have reduced the number of times they eat out.
A further two in five said they have had to spend less on holidays and a third have cut back on ordering in takeaways, clothing, and other luxury items since having children.
Parents in Wales are paying, on average, just over 1 hundred and 3 pounds a week to have their child, aged under 2, in a nursery.
The Family and Childcare Trust also says, last year, the cost was up by a third on the previous 12 months.
For a child aged 2 and over the cost is around a pound less.
Communities and Tackling Poverty Minister, Lesley Griffiths, has announced £400,000 to provide out-of-school childcare for families across Wales.
The funding, which the Welsh Government says is on top of £2.3 million already provided, is aimed at gaps in childcare provision across Wales.
Projects set to get extra funding include childcare centres in Caerphilly and Conwy which will provide play workshops for local children.
According to research by the Family and Childcare Trust almost a fifth of parents in Wales had to call in sick last year, in order to manage childcare during the summer holidays.
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A lack of holiday childcare means around a fifth of Welsh workers will call in sick to look after their children over the summer break, according research by the Family and Childcare Trust and Netmums.
The Chief Executive of Children in Wales, Catriona Williams, says families are under a lot of pressure due to the rising costs of childcare and they're having to rely on family members to look after their children.
Almost a fifth of parents in Wales had to call in sick last year, in order to manage childcare during the summer holidays.
That's according to new research by the Family and Childcare Trust, and Netmums. Both are calling for more affordable childcare to be made available.
Their research also found a further 12% of parents had been forced to give up their jobs entirely, causing the Welsh economy to miss out on nearly 50,000 working days every year.
Part-time childcare costs for a family of two children have overtaken the average UK mortgage bill by 4.7 per cent, according to new research.
The report by the Family and Childcare Trust shows that in Wales, where average mortgage costs are £5,252 per year, part-time childcare costs are 36 per cent higher at £7,139 per year. Full-time childcare would cost £10,760 which is 105 per cent more than the average mortgage in Wales.
Parents in Wales also face the worst gaps in provision, an issue that has not improved over the last five years. Only 11 per cent of local authorities had enough childcare for 5-11 year olds, compared with 35 per cent in England. No local authority had enough childcare in rural areas.
The Family and Childcare Trust believes governments should:
• Extend free early education to all two year olds.
• Make better use of school premises to provide flexible childcare provision.
• Uprate Working Tax Credits to account for rising childcare costs.
• Effectively enforce the duty on local authorities to provide sufficient childcare.
Shadow Education Minister Angela Burns has been talking about the commission into affordable childcare she's chairing for the Welsh Conservatives. Opposition leader Andrew RT Davies announced her appointment at the party's conference in Swansea.