The 12 Days of Christmas Price Index up 3.1%

According to the 23rd annual survey, the cost of 'The 12 Days of Christmas' is US$19,507 in 2007, a 3.1% increase over last year. The rise in gift prices mirrored the US government's Consumer Price Index - a widely used measure of inflation calculated by the Bureau of Labour Statistics. The Consumer Price Index is up 3.5% so far this year.

Each year, the PNC Christmas Price Index provides a look at the events and news that helped shape the economy during the year. Since 1984, educators across the country have used the Christmas Price Index to teach economic trends to students of all ages. With that in mind, this year's Christmas Price Index Web site has been updated to include more interactive activities such as a live chat with chief investment officer Jim Dunigan, enhanced games, annual results and trends, a Flash presentation and much more. Educators who visit the site will also find a complete sample lesson plan on related material from The Stock Market Game^TM (SMG) program, America's premier educational stock-market simulation.

"Over time, the Christmas Price Index has reflected trends in the broader economy," said James Dunigan, managing executive of investments for PNC Wealth Management. "This year, increased commodities prices, concerns about the value of the dollar and the first minimum wage increase in 10 years were major factors in the increases to the Christmas Price Index."

Other Christmas Price Index Highlights include:

• True Loves will have to pay a bit more for the five Gold Rings this year, as the jewellers who provide the prices for the rings report having no choice but to pass increased prices along to consumers as the price of gold continues to rise.
  
• As always, this year's Christmas Price Index is driven in large part by the birds. The 20% increase for the cost of Geese-a-Laying is reflective of increased food prices in the Consumer Price Index. The Calling Birds (canaries), up 25%, are purchased at national pet store chain PetCo and tend to rise along with higher demand and increased shipping costs for retailers.
  
• The eight Maids-a-Milking received their first raise in 10 years when Congress increased the minimum wage to $5.75 an hour earlier this year. The Milkmaids can expect to see further increases in 2008 and 2009, as Congress has already approved increases to the minimum wage for both years.

True Loves spending more than ever:

For those True Loves who prefer to do their shopping online, PNC Wealth Management calculates the cost of 'The 12 Days of Christmas' gifts purchased on the Web. This year, the trends identified in the traditional index are repeated in the Internet version, with an overall growth of 3%, compared to 3.1% in the traditional index.

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. This holiday season, very generous True Loves will pay more than ever before - US$78,100 - for all 364 items, up from US$75,122 in 2006. This 4% increase is about even with last year's 3.5% increase.

For more information, visit: http://www.pncchristmaspriceindex.com/

Source: eMediaWire.com