(Pittsburgh) -- The PNC Christmas Price index is outpacing the more traditional CPI this year.
The only gift found in “The 12 Days of Christmas" to drop in price was the Partridge in a Pear Tree.
Overall, PNC Bank wealth manager Julia Foley says the cost of the carol spiked unexpectedly this year.
“In 2013 a true love will pay about $1,200 more than they would have paid last year,” she says. “So to buy the gifts individually would be $27,393.”
That’s an increase of seven-point-seven percent, significantly higher than the more traditional inflationary index, which stands at just one percent.
However, through three decades of the Christmas Price Index, both CPIs have averaged year-over-year increases of two-point-nine percent.
Entertainment costs were up this year, as the price of Nine Ladies Dancing increased 20 percent - the most of any gift in the carol.
It’s more expensive to hire entertainers this year, but Foley says the cost of Eight Maids-a-Milking is again stagnant. The maids - as the only unskilled laborers in the carol - are represented by the minimum wage, which remains flat at $7.25 an hour.
Published in Newsback to top
Support for WITF is provided by:
Support for witf is provided by: