MERIC NEWS LETTER


Slight Increase in the Twelve Days of Christmas Price Index

For more than 30 years, 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 adding the items as they repeat each time, is up over $150,000 for the fourth time due to cost of doves, along with a modest increase for pipers and drummers. This year the Christmas price index rose more than $233, up a slight 0.7% from last year's costs.

A more frugal True Love who only purchases the song's gifts once can get by with spending $34,363 in 2016 – a 0.7% increase over last year. With the exception of the recession in 2000 to 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 2015. The French hens, calling birds, gold rings, swans, geese and most labor costs remained the same. Skilled labor rose for the Pipers and Drummers by 2.8%. The high demand for Doves drove their price up by 29.3%, the highest increase of any item. Partridges fell in demand this year, dropping the price by 20%.

2016 PNC Christmas Price Index
Item 2015 2016 Percent Change
A Partridge $25.00 $20.00 -20.0%
Pear Tree $189.99 $189.99 0.0%
A Partridge in a Pear Tree Total $214.99 $209.99 -2.3%
Two Turtle Doves $290.00 $375.00 29.3%
Three French hens $181.50 $181.50 0.0%
Four Calling Birds $599.96 $599.96 0.0%
Five Golden Rings $750.00 $750.00 0.0%
Six Geese-a-Laying $360.00 $360.00 0.0%
Seven Swans-a-Swimming $13,125.00 $13,125.00 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 $5,508.70 $5,508.70 0.0%
Eleven Pipers Piping $2,635.20 $2,708.40 2.8%
Twelve Drummers Drumming $2,854.80 $2,934.10 2.8%
Total $34,130.99 $34,363.49 0.7%

Shopping online may be more convenient however in the case of the “Twelve Days of Christmas”, shopping online will cost you over $10,239 more than if you bought the same items the traditional way. A whopping $44,602 to purchase the twelve gifts online rather than in person. Most of the difference in internet and traditional purchases a rise from shipping costs of live birds.

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

      Source: PNC Financial Services Group                     LINE

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