12 Days of Christmas CPI 2015

The cost of the Twelve Days of Christmas

By Tarryn Landman

It’s become something of a tradition for us to write about the PNC Christmas Price Index (CPI) in the December issue of TINANSince 1984, PNC has created the CPI as a way of measuring consumer spending and trends in the American economy, much like the U.S. Consumer Price Index, by tracking the cost of the gifts mentioned in the song “The Twelve Days of Christmas”. This year, the cost of the gifts comes in at$34,130.99, an increase of +0.6% over $33,933.22 in 2014. While the overall cost has risen slightly, just three gifts actually increased in price (the partridge in a pear tree, two turtle doves, and ten lords-a-leaping).

Along with the annual results, PNC also provides some interesting (although brief) analysis of trends seen in the CPI over the past 32 years. According to PNC, there are three factors have had significant impacts on changes in the CPI over the past 32 years: the internet, the price of services, and fuel costs.

In keeping with the whimsical nature of the CPI, PNC created the world’s first life-size bank made of real gingerbread in Philadelphia for the release of this year’s findings. You can tour the digital version of the Gingerbread Branch for an interactive look at the Christmas Price Index 2015.

This post first appeared in TINAN 67. Subscribe to TINAN for the latest economic development news and resources.