Reflecting a steep decline in energy costs, lower inflation and slow-but-steady economic growth, the 2015 PNC Christmas Price Index (PNC CPI) experienced its lowest growth rate in six years at 0.6% in the whimsical economic analysis by PNC Wealth Management.
According to the 32nd annual report which measures the cost of the gifts in the holiday classic, “The Twelve Days of Christmas,” the price tag for the PNC CPI is $34,130.99 in 2015, a mere $198 more than last year’s cost and in-line with the government’s Consumer Price Index, which has increased 0.2% over the past 12 months.
As part of its annual tradition, PNC Wealth Management also tabulates the “True Cost of Christmas,” which is the total cost of items gifted by a True Love who repeats all of the song’s verses. The ultra-generous True Love will have to fork over $155,407 to pay for all 364 gifts, nearly $900 more than last year.
To mirror the government’s core CPI, which excludes energy and food prices, PNC removes the Swans—typically the most volatile item in the index—from its total index. With the Swans excluded, the core PNC CPI rose just 1.0%, similar to the 1.9% increase in the government’s core CPI.NEXT: Notable changes in this year’s index