$114,651.18 = The True Cost of Christmas
The 30th annual PNC Christmas Price Index® has revealed that the true cost of Christmas is now a staggering $114,651.18, up 6.9% compared to last year. The index is based on the total value of all the gifts from the song "The Twelve Days of Christmas" given by the True Love in all verses combined.
However, if you just count each gift once, rather than the number of times its mentioned in the song, you get a much more modest figure of $27,393.17, which is still up $1,192 from last year. You can see the break down of gifts below:
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Interestingly, the tongue-in-cheek index is up 116% from its inception in 1984, compared to US price inflation of 122% over the same period of time.
Jim Dunigan, managing executive, Investments of PNC Wealth Management has also found that: "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 percent, which is exactly the same number as the U.S. inflation index."