MERIC NEWS LETTER

Twelve Days of Christmas More Expensive this Year

The 2005 Christmas Price Index, a lighthearted holiday basket price index from PNC Financial Services Group, based on the "Twelve Days of Christmas," is $18,348 in 2005, up 6.1 percent from last year. Higher energy prices and the rising cost and difficulty of importing birds contribute to this year's increase in the index, which features seven different types of birds.


Source: PNC Financial Services Group

The most expensive item on the list in 2005 would be the Nine Ladies Dancing at $4,576.14, while the Two Turtle Doves are a bargain at $40.00. The Six Geese-a-Laying were up by 42.9 percent for the largest increase over the year. The Five Gold Rings will also cost more, up by 27.5 percent. Prices were unchanged in the Two Turtle Doves, Three French Hens, Eight Maids-a-Milking, Ten Lords-a-Leaping, Eleven Pipers Piping and Twelve Drummers Drumming categories.


Source: PNC Financial Services Group

For the "true cost of Christmas", which totals the cost of items repeated in the verses, a True Love would pay $72,608 for all 364 items, up from $66,334 in 2004.

The "core" Christmas Price Index, which excludes the volatile Seven Swans-a-Swimming component, was up 2.6 percent over the year. This is similar to the core Consumer Price Index produced by the U.S. Bureau of Labor Statistics, a commonly used measure of inflation.

For more information, visit the PNC Christmas Price Index website.

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