It’s
here! The 34th annual PNC Christmas Price Index, that is.
The
PNC Christmas Price index reports the cost to purchase the gifts included in
the classic holiday song “The 12 Days of Christmas”.
PNC
tells us “ . . . the 2017 price tag for
The PNC Christmas Price Index at $34,558.65, approximately $200 or 0.6 percent
more than last year's cost and less than the government's Consumer Price Index,
which increased 2.2 percent through September for the past 12 months.”
The
only increases in the included items are –
*
a 5.2% jump in the cost of the pear tree in which a partridge resides, due to a
limited supply of larger more mature trees,
*
a 10% increase in the cost of gold rings, due to increased demand and
popularity, and
*
a 2% pay hike for leaping lords, who apparently have a better union than
musicians, milking maids and dancing ladies.
The
chief economist of a bank in Philadelphia, which eventually became part of PNC,
began estimating the cost of the 12 Christmas gifts in 1984 as a holiday client
letter. This year's price is 83 percent higher than the inaugural report 33
years ago.
For
those who prefer the convenience of online shopping the Index also calculates
the cost of the gifts purchased on the internet. As online costs are higher due to travel and
shipping, the total cost is $45,096, $10,538 more than “in store” purchases. The internet Index reflects a $493.90 or 1.1%
increase over 2016.
The
actual true cost of every gift in the song (with each previous day’s purchases
repeated over the 12 days) is $157,558 in store and $204,848.65 online.
TTFN
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