Every year PNC likes to inject a cold, harsh dose of reality into the holiday season with their Christmas Price Index. What is the CPI? It’s the real-life cost of all of the gifts in the classic 12 Days of Christmas carol. Not only is it somewhat ridiculous holiday-themed fun, it is also an interesting reflection of the current economy.
This year’s CPI (at the time of posting) is $34,558.65, up .6% from last year. What’s with the increase? According to PNC, “the cost of this year’s CPI rose ever so slightly, driven by the cost increases for the Pear Tree, the increased demand for Golden Rings and wage increases for the Lords-a-Leaping.”
PNC has been putting the report together since 1984, when it was designed as a “whimsical” spin on the U.S. Consumer Price Index. They identify the internet, the price of services and fuel costs (as they relate to shipping) as the greatest drivers of change in the index over the years.
The report should help you narrow down your extravagant holiday entertainment if you’re feeling budget minded —this year ten Lords-a-Leaping are less expensive than nine Ladies Dancing, even with their increase. You can also book twelve drummers drumming for $2,934.10, but PNC does not offer any insight into why anyone would possibly want to do that. They’ve created a coloring book for those who are into both mindfulness and financial trends.
More budget tips for the holidays:
h/t Business Insider