PNC Christmas Price Index Increases 5.4%, Significantly More Than The U.S. Consumer Price Index
PNC Bank's 41st annual Christmas Price Index® (PNC CPI) shows a 5.4% increase in 2024, more than double last year's 2.7% rise and exceeding the U.S. Consumer Price Index of 2.6%. The total cost of all twelve gifts from 'The Twelve Days of Christmas' reached $49,263, with the 'True Cost of Christmas' (all 364 gifts with verses repeated) hitting $209,272. The increase was primarily driven by service costs, particularly performer wages, which rose 7.9%. Five gifts maintained stable prices, while the Pear Tree saw a 17.1% increase. Online shopping totals reached $54,074, affected by elevated shipping costs.
Il 41° indice annuale dei prezzi di Natale® (PNC CPI) di PNC Bank mostra un incremento del 5,4% nel 2024, più del doppio rispetto all'aumento del 2,7% dell'anno scorso e superiore all'indice dei prezzi al consumo USA del 2,6%. Il costo totale di tutti e dodici i regali de 'I Dodici Giorni di Natale' ha raggiunto $49,263, mentre il 'Costo Reale del Natale' (tutti e 364 regali con i versi ripetuti) ha toccato $209,272. L'aumento è stato guidato principalmente dai costi dei servizi, in particolare dagli stipendi degli artisti, che sono aumentati del 7,9%. Cinque regali hanno mantenuto prezzi stabili, mentre il Pero ha visto un incremento del 17,1%. I totali degli acquisti online hanno raggiunto $54,074, influenzati dai costi di spedizione elevati.
El 41.º índice anual de precios navideños® (PNC CPI) de PNC Bank muestra un incremento del 5,4% en 2024, más del doble del aumento del 2,7% del año pasado y superando el índice de precios al consumidor de EE. UU. del 2,6%. El costo total de los doce regalos de 'Los Doce Días de Navidad' alcanzó $49,263, mientras que el 'Costo Verdadero de la Navidad' (todos los 364 regalos con versos repetidos) llegó a $209,272. El incremento fue impulsado principalmente por los costos de servicio, en particular los salarios de los intérpretes, que aumentaron un 7,9%. Cinco regalos mantuvieron precios estables, mientras que el peral vio un aumento del 17,1%. Las compras en línea totalizaron $54,074, afectadas por los altos costos de envío.
PNC 뱅크의 41번째 연례 크리스마스 가격 지수(PNC CPI)는 2024년에 5.4% 증가함을 보여줍니다. 이는 지난해의 2.7% 상승보다 두 배 이상이며, 미국 소비자 물가 지수 2.6%를 초과합니다. '크리스마스의 열두 날'에서 제공되는 모든 열두 선물의 총 비용은 $49,263에 달하며, '크리스마스의 진정한 비용'(모든 364개의 선물과 반복되는 시구)은 $209,272에 달했습니다. 이 증가는 주로 서비스 비용, 특히 공연자의 임금 상승(7.9%)에 의해 이루어졌습니다. 다섯 개의 선물은 안정적인 가격을 유지했으며, 배나무는 17.1% 증가했습니다. 온라인 쇼핑 총액은 $54,074에 달하며, 높은 배송 비용의 영향을 받았습니다.
Le 41e indice des prix de Noël annuel® (PNC CPI) de PNC Bank montre une augmentation de 5,4% en 2024, soit plus du double de l'augmentation de 2,7% de l'année dernière et dépassant l'indice des prix à la consommation des États-Unis de 2,6%. Le coût total des douze cadeaux des 'Douze jours de Noël' a atteint 49 263 $, tandis que le 'Vrai coût de Noël' (tous les 364 cadeaux avec des versets répétés) s'élève à 209 272 $. L'augmentation a été principalement alimentée par les coûts des services, en particulier les salaires des artistes, qui ont augmenté de 7,9%. Cinq cadeaux ont conservé des prix stables, tandis que le poirier a connu une augmentation de 17,1%. Les achats en ligne ont atteint 54 074 $, affectés par des coûts d'expédition élevés.
Der 41. jährliche Christmas Price Index® (PNC CPI) von PNC Bank zeigt einen Anstieg von 5,4% im Jahr 2024, mehr als doppelt so hoch wie der Anstieg von 2,7% im letzten Jahr und über dem US-Verbraucherpreisindex von 2,6%. Die Gesamtkosten aller zwölf Geschenke aus 'Die Zwölf Tage von Weihnachten' betrugen 49.263 $, während die 'Wahren Kosten von Weihnachten' (alle 364 Geschenke mit wiederholten Versen) 209.272 $ erreichen. Der Anstieg wurde hauptsächlich durch die Kosten für Dienstleistungen angetrieben, insbesondere die Gehälter der Künstler, die um 7,9% gestiegen sind. Fünf Geschenke hielten stabile Preise, während der Birnenbaum einen Anstieg von 17,1% verzeichnete. Die Gesamtausgaben für Online-Einkäufe beliefen sich auf 54.074 $, beeinflusst durch die hohen Versandkosten.
- Five out of 12 gifts showed no price increase, helping contain overall costs
- Online shopping showed lower price increases (3.9%) compared to traditional shopping (5.4%)
- Overall PNC CPI increased 5.4%, doubling last year's 2.7% increase
- Service costs rose significantly with performer wages up 7.9%
- Pear Tree costs (proxy for housing) jumped 17.1%
- Total cost crossed $200,000 threshold for first time, reaching $209,272
Insights
The PNC Christmas Price Index (CPI) serves as a creative yet insightful economic indicator, revealing important market trends. The
Most notable is the dramatic shift in the index composition over 41 years - from
The
- PNC calculates the cost of Christmas from the holiday song "The Twelve Days of Christmas"
- Recent inflation trends are repeating, much like the verses of the song itself
- Five of the 12 gifts had no increase compared to 2023
The PNC CPI measures the change in prices consumers could expect to pay for True Love's gifts from the classic holiday carol, "The Twelve Days of Christmas." Data is compiled by PNC's Investment Office using sources from across the country, including dance and theatre companies, hatcheries, pet stores and others.
Unwrapping the data a little further reveals the increase in PNC CPI, like last year, was driven mainly by service costs, while bird prices mostly have yet to take flight. True Loves should hang on for deer life because overall, the 12 gifts that comprise the PNC CPI increased to a tree-topping
"Believe it or not, we're still seeing the cause and effect of the pandemic-inflation hangover, even nearly five years later," says Amanda Agati, chief investment officer of PNC's Asset Management Group. "With years of steep price increases, we'd think inflation has nowhere to go, but we'd be wrong. This latest PNC CPI is an accurate reflection of what we're seeing in the market."
Purchasing all 364 gifts — the "True Cost of Christmas," that is buying the gifts with verses repeated — crossed the
Since the PNC CPI launched, the BLS CPI has increased
Inflation Trends Repeat, Much Like the Verses of the Song Itself
There were no price increases this year for five of the gifts in the Index, including the Two Turtle Doves, Four Calling Birds, Five Gold Rings, Seven Swans-A-Swimming and Eight Maids-A-Milking.
Although the Partridge was unchanged, there was a
True Loves will benefit from little to no price increases for goods on this year's list; however, rising wages for skilled labor, represented by the performers, will make a bigger dent in their budget this year. Strong labor markets have helped spread cheer to many workers who have seen wage growth rise, consistent with trends in the BLS CPI. The cost of Nine Ladies Dancing and 10 Lords-a-Leaping jumped to new heights, 11 Pipers Piping trumpeted higher, and the 12 Drummers Drumming beat a stronger sum. In aggregate, prices for performers increased
The cost of all 12 gifts is reported on PNC's interactive website, which is meant to be as fun as it is educational. "Buying the same gifts year after year may seem boring," says Agati, "but keeping track of changes in your spending enables you to make brilliant moves with your money, which is what I think the PNC CPI sets out to do."
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in
[2024 PNC Christmas Price Index Follows]
2024 PNC Christmas Price Index®
| ||||||
TRADITIONAL | INTERNET | |||||
% Change | % Change | |||||
2023 | 2024 | 2024/2023 | 2023 | 2024 | 2024/2023 | |
One Partridge in a Pear Tree | $ 319.18 | $ 370.18 | 16.0 % | $ 479.18 | $ 510.18 | 6.5 % |
Partridge | $ 20.18 | $ 20.18 | 0.0 % | $ 110.18 | $ 110.18 | 0.0 % |
Pear Tree | $ 299.00 | $ 350.00 | 17.1 % | $ 369.00 | $ 400.00 | 8.4 % |
Two Turtle Doves | $ 750.00 | $ 750.00 | 0.0 % | $ 845.00 | $ 850.00 | 0.6 % |
Three French Hens | $ 330.00 | $ 346.50 | 5.0 % | $ 540.00 | $ 566.50 | 4.9 % |
Four Calling Birds | $ 599.96 | $ 599.96 | 0.0 % | $ 560.00 | $ 560.00 | 0.0 % |
Five Gold Rings | $ 1,245.00 | $ 1,245.00 | 0.0 % | $ 1,469.75 | $ 1,469.75 | 0.0 % |
Six Geese-a-Laying | $ 780.00 | $ 900.00 | 15.4 % | $ 3,030.00 | $ 3,300.00 | 8.9 % |
Seven Swans-a-Swimming | $ 13,125.00 | $ 13,125.00 | 0.0 % | $ 15,325.00 | $ 15,325.00 | 0.0 % |
Eight Maids-a-Milking | $ 58.00 | $ 58.00 | 0.0 % | $ 545.28 | $ 570.24 | 4.6 % |
Nine Ladies Dancing | $ 8,308.12 | $ 8,557.37 | 3.0 % | $ 8,308.12 | $ 8,557.37 | 3.0 % |
10 Lords-a-Leaping | $ 14,539.20 | $ 15,579.65 | 7.2 % | $ 14,539.20 | $ 15,579.65 | 7.2 % |
11 Pipers Piping | $ 3,207.38 | $ 3,714.96 | 15.8 % | $ 3,052.50 | $ 3,245.00 | 6.3 % |
12 Drummers Drumming | $ 3,468.02 | $ 4,016.85 | 15.8 % | $ 3,330.00 | $ 3,540.00 | 6.3 % |
Total Christmas Price Index | $ 46,729.86 | $ 49,263.47 | 5.4 % | $ 52,024.03 | $ 54,073.69 | 3.9 % |
True cost of Christmas in song | $ 201,972.66 | $ 209,272.00 | 3.6 % | $ 239,414.64 | $ 246,834.79 | 3.1 % |
"Core" index, excluding swans | $ 33,604.86 | $ 36,138.47 | 7.5 % | $ 36,699.03 | $ 38,748.69 | 5.6 % |
CONTACT:
Kristen Pillitteri
(412) 762.4550
kristen.pillitteri@pnc.com
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SOURCE PNC Bank
FAQ
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