MERIC NEWS LETTER


Twelve Days of Christmas Price Index Increases Slightly

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 fifth time due to cost of doves, along with a modest increase for pear trees, lords leaping and pipers piping including a larger increase for the five golden rings.

A more frugal True Love who only purchases the song's gifts once can get by with spending $34,559 in 2017 – a 0.6% 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. This year the Christmas price index rose more than $195, up a slight 0.6% from last year's costs.

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 2016. The doves, French hens, calling birds, swans, geese and most labor costs remained the same. Skilled labor rose for the lords leaping and pipers by 2.0% and 3.0%. The rising price of gold pushed the prices of the five golden rings up 10%.

2017 PNC Chrismas Price Index
Item 2017 2016 Percent Change
A Partridge in a Pear Tree Total $219.95 $209.99 4.7%
Two Turtle Doves $375.00 $375.00 0.0%
Three French hens $181.50 $181.50 0.0%
Four Calling Birds $599.96 $599.96 0.0%
Five Golden Rings $825.00 $750.00 10.0%
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 $5,618.90 $5,508.70 2.0%
Eleven Pipers Piping $2,427.00 $2,356.20 3.0%
Twelve Drummers Drumming $2,708.40 $2,708.40 0.0%
Total $34,558.65 $34,363.49 0.6%

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

      Source: PNC Financial Services Group    

                 

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