Christmas price index increased 5.7% compared to 2019 – .

Christmas price index increased 5.7% compared to 2019 – .

The index measures how much it will cost to purchase gifts from the classic holiday song, “12 Days of Christmas” – a variation of the Consumer Price Index from the Bureau of Labor Statistics (BLS). After a bah-humbug economic year in 2020, the cost of purchasing these twelve gifts increased 5.7% from 2019, reaching $ 41,205.58.

The Bureau of Labor Statistic’s regular CPI stands at 6.2%, well above the Federal Reserve’s 2% inflation target. The Christmas Price Index used 2019 data to calculate inflation, as the pandemic made 2020 difficult to measure.

“It is interesting to note that our specialized gift basket of goods and services is relatively consistent with these high price points,” said Amanda Agati, Director of Investments for PNC Asset Management Group.

The biggest price increases are for exotic animals, in particular Six Laying Geese, which jumped 57%, Two Doves, up 50%, and Three French Hens, which soared 40%. Higher expenses for food and labor have driven up the cost of raising birds.

Gold prices are also on the rise, pushing the cost of the five gold rings 8.5% to $ 895.

The most expensive item on the list is Seven Swans-A-Swimming, which cost $ 13,125, roughly the same as in 2019. Live performances are back, as are the Nine Ladies Dancing – their price also held steady at $ 7,552.84. But be prepared to pay more for the Eleven Pipers Piping and Twelve Drummers Drumming.

Those feeling particularly extravagant this year will have to shell out over $ 179,454 to purchase the freebies each time they are mentioned in the famous repeating song.

And anyone who purchases 12 Days of Christmas gifts online will have to shell out an additional $ 4,394 for travel and shipping costs.

“Consumer behavior is the drum of the US economy,” Agati said. “With 70% of US GDP linked to consumption, the health of consumers is key to future market performance. Keep an eye out for retail sales, savings rates, and consumer confidence as indicators of this holiday season’s success. “


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