MERIC NEWS LETTER


Twelve Days of Christmas Price Index Rises

For the 29th year, PNC Wealth Management has released its Christmas Price Index, a whimsical look at the cost of the gifts in the classic Holiday song, "The Twelve Days of Christmas". The most generous True Love's cost of Christmas, based on repeating all the song's verses, is up over $100,000 for the second time due to the spike in cost of hens, pear trees, gold and swans, rising $1,168 from last year.

A more frugal True Love who only buys the song's gifts once can get by with spending $25,431.18 in 2011 – still a 4.8 percent increase over last year. With the exception of the recession in 2000 – 2001, prices have been steadily climbing since 1995.  This rise largely mirrors the Consumer Price Index; the most widely used federal measure of inflation.

Twelve Days of Christmas Price Index Graph
Source: PNC Financial Services Group

A bright side of the cost of the Twelve Days of Christmas is that over half of the items remained the same from 2011. The partridge, doves, calling birds, milk maids, dancing ladies and dancing lords remained the same.

Skilled labor rose for pipers and drummers. The price for eleven pipers and twelve drummers each had a 5.5 percent increase since last year.

The largest increase was six geese-a-laying with a 29.6 percent increase due to scarcity and higher cost of feed. The second largest increase was the five rings due to the increase in the price of gold.

2011 PNC Chrismas Price Index
Item 2012 2011 Percent Change
A Partridge in a Pear Tree Total $204.99 $184.99 10.8%
Two Turtle Doves $125.00 $125.00 0.0%
Three French hens $165.00 $150.00 10.0%
Four Calling Birds $519.06 $519.06 0.0%
Five Golden Rings $750.00 $645.00 16.3%
Six Geese-a-Laying $210.00 $162.00 29.6%
Seven Swans-a-Swimming $7,000.00 $6,300.00 11.1%
Eight Maids-a-Milking $58.00 $58.00 0.0%
Nine Ladies Dancing $6,294.03 $6,294.03 0.0%
Ten Lords-a-Leaping $4,766.70 $4,766.70 0.0%
Eleven Pipers Piping $2,562.00 $2,427.00 5.5%
Twelve Drummers Drumming $2,775.50 $2,629.90 5.5%
Total $25,431.18 $24,263.18 4.8%

Shopping online may be more convenient; however, these conveniences will cost you a whopping $40,440, up 1.5 percent from a year ago. Most of the difference in internet and traditional purchases arise form shipping costs of live birds. In the case of the “Twelve Days of Christmas”, shopping online will cost you over $15,000 more than if you bought these same items the traditional way.

For more information, visit the www.pncchristmaspriceindex.com website.

      Source: PNC Financial Services Group                     LINE


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