Page 5 - IAV Digital Magazine #535

A Full '12 Days of Christmas' Will Cost More This Year
By Simon Druker
Nov. 29 (UPI) -
- This year, seven swans will still cost over $13,000, the most expen- sive gift in the song The 12 Days of Christmas as almost every other gets pricier, according
to PNC's Christmas Price Index released Monday.
The annual
index has been around since 1984 and measures the current cost of obtaining all items in a full verse of the iconic carol.
The index is meant to be a reflection of the broader U.S. economy and "parallels inflation- ary growth."
After plummeting last year, the
index is up 5.7 percent this sea- son, the largest jump since 2013. It would cost about $41,206 to obtain the requi- site items from each of the 12 verses. That figure is up from $16,168 last year and $38,994 in 2019.
The all-encom- passing figure doesn't necessari- ly tell the whole story. In a more nuanced look, two turtle doves would cost around $450, 50 percent higher than last year. At the same time, the price of seven swans held steady at $13,125. However, because there has been no increase to the federal minimum wage, the price of eight maids-a- milking also didn't budge and will
again cost an affordable $58. It's also by far the cheapest gift on the 12-item list.
"Inflation this year has certainly been surprising to the upside. This very specialty gift bas- ket is largely mir- roring what we're seeing in the larg- er economy," said PNC Chief Investment Officer Amanda Agati.
The National Retail Federation expects the aver- age American consumer to spend $648 this holiday season on gifts for family, friends and co- workers.
A recent Gallup poll found Americans expect to spend $837 on gifts.
iAV - Antelope Valley Digital Magazine
iAV - Antelope Valley Digital Magazine