MERIC NEWS LETTER


Twelve Days of Christmas Price Index Rises

For the 31st 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 third time due to the cost of geese, partridges and french hens, along with a modest increase for lords-a-leaping. This year the Christmas price index rose more than $1,623, up a mere 1.4% from last year's costs.

A more frugal True Love who only purchases the song's gifts once can get by with spending $27,673.22 in 2014 – a 1.0% 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 three-quarters of the items remained the same from 2013. The doves, calling birds, gold rings, swans, and most labor costs remained the same.

Skilled labor rose for the lords-a-leaping by 2%. Geese rose by 71%, french hens by 10% and partridges by 3.8% due to scarcity and demand from low feed prices.

2014 PNC Chrismas Price Index
Item 2014 2013 Percent Change
A Partridge in a Pear Tree Total $207.68 $199.99 3.8%
Two Turtle Doves $125.00 $125.00 0.0%
Three French hens $181.50 $165.00 10.0%
Four Calling Birds $599.96 $599.96 0.0%
Five Golden Rings $750.00 $750.00 0.0%
Six Geese-a-Laying $360.00 $210.00 71.4%
Seven Swans-a-Swimming $7,000.00 $7,000.00 0.0%
Eight Maids-a-Milking $58.00 $58.00 0.0%
Nine Ladies Dancing $7,552.84 $7,552.84 0.0%
Ten Lords-a-Leaping $5,348.24 $5,243.37 2.0%
Eleven Pipers Piping $2,635.20 $2,634.20 0.0%
Twelve Drummers Drumming $2,854.80 $2,854.80 0.0%
Total $27,673.22 $27,393.16 1.0%

Shopping online may be more convenient; however, it will cost you a whopping $192,470 to purchase the 364 gifts online. Most of the difference in internet and traditional purchases a rise from shipping costs of live birds. In the case of the “Twelve Days of Christmas”, shopping online will cost you over $29,197 more than if you bought the same items the traditional way.

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

      Source: PNC Financial Services Group                     LINE

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