23rd Annual PNC Christmas Price Index UP 3.1 %

The significantly higher price of gold and increased compensation for minimum wage workers will make Christmas more expensive this year, according to the PNC Christmas Price Index. The tongue-in-cheek economic analysis by PNC Wealth Management is based on the cost of gifts in the holiday classic, “The Twelve Days of Christmas.”

According to the 23rd annual survey, the cost of “The Twelve Days of Christmas” is $19,507 in 2007, a 3.1 percent increase over last year. The rise in gift prices mirrored the U.S. government’s Consumer Price Index – a widely used measure of inflation calculated by the Bureau of Labor Statistics. The Consumer Price Index is up 3.5 percent so far this year.

+ PNC Christmas Price Index

Source: PNC Wealth Management

This entry was posted on Wednesday, November 28th, 2007 and is filed under Fast Facts, Source File. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.