With inflation hitting most people’s wallets these days, it’s no surprise that the 39th annual PNC Christmas Price Index (CPI) has also taken risen higher than 10 Lords-A-Leaping.
The CPI has been compiled to check just how much it would cost if you were to put each item in the 12 Days of Christmas under someone’s tree. PNC compares the purchases against the costs from the previous year to produce the Index. The total cost of the 2022 CPI comes in at just $45,523.27, a whopping 10.5% increase over the $ 41,205.58 total from 2021, the 3rd highest increase in the history of the Index.
“True Loves will need to come up with a record $45,523.27 to buy those 12 perfect gifts this year,” said Amanda Agati, chief investment officer for PNC Asset Management Group. “This is a disquieting development for many, as pandemic-related supply chain disruptions and elevated energy and commodity prices continue to impact the cost of goods and services. Despite True Loves’ generous intentions, the gifts that make up the PNC CPI are not well-insulated from what is being experienced across the broader economy.”
That total is based on purchasing one set of each of the 12 days’ items, however, if one was to purchase each and every one of the gifts given by the True Love including each repetition of the song, the 364 presents tally up to a stratospheric $197,071.09, a 9.8% increase over 2021.
Driving much of the index increase is the cost of some of the birds. While the Partridge, Calling Birds and Swans saw no flight in price, the cost of others, including Turtle Doves, French Hens and Geese, took off by 20.1%.
Labour issues are highlighted by the return of performing since the pandemic as the Nine Ladies Dancing, Ten Lords-a-Leaping, Eleven Pipers Piping and the 12 Drummers Drumming all hit new beats this season. However, stagnating minimum-wages leave the Eight Maids-A-Milking lacking a pay-rise.
For a full breakdown of the costs of each day of the PNC Christmas Price Index visit pncchristmaspriceindex.com and check out the DIY Craft Projects for each of the Days to create your own version of the 12 Days of Christmas with your family.