April 24, 2014
1:53 am

Dancing Ladies Spike Christmas Gift Costs

If you're one of those hopeless romantics hoping to show your true love a good time this Christmas, some of the "labor" costs involved are going to spike your final tab.  

The annual PNC Christmas Price Index is out for 2013 and the steady rate of improvement in the economy has jacked the price by a little over 7 1/2-percent this year largely due to the costs associated with "Nine Ladies Dancing," and those "Lords-a-Leaping!"  Now 20% higher, the dancing girls add the largest share of the price hike, while leaping lords are now 10% more expensive than a year ago.

This year marks the 30th Anniversary of the whimsical peek behind the curtain at what the costs associated with actually purchasing the gifts portrayed in the holiday classic song, "The Twelve Days of Christmas."  The tongue-in-cheek economic analysis performed by the team at PNC Wealth Management puts the full tab this year at $27,393.17...which is $1,192.00 more than last year and representes the largest price increase for the lot since 2010 when the index took a 9.2% hike.

Jim Dunigan is the managing executive of investments at PNC Wealth Management.  He says, "While there are exceptions in given years, what's most interesting about the index's history is that since the beginning, year-over-year increases have averaged 2.9% which is exatly the same number as the U.S. inflation index."  

This year's survey results were revealed on an enhanced website that includes an innovative interactive "gift maker" experience, allowing you to "build" your own PNC CPI toys online.  You can check out that website here:

 
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Topics : Business_Finance
People : Jim Dunigan
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