National inflation trends may show signs of easing, but holiday shoppers face steeper costs for decking the halls. This year, the PNC Christmas Price Index climbed by 5.4%, reflecting higher service costs and maintaining its tradition of tracking the cost of gifts from “The Twelve Days of Christmas.”
The Christmas Price Index has doubled its rate of increase compared to 2023 and surpassed the U.S. Bureau of Labor Statistics Consumer Price Index, which was up by 2.6% in October. The total cost of all gifts in the song now stands at $49,263, while purchasing all 364 items featured in the lyrics crosses a milestone, totaling over $209,000 for the first time.
What’s Happening: Five of the 12 gifts in the index saw no price increases, including turtle doves, calling birds, and gold rings. However, a 17.1% rise in the cost of the pear tree, used as a proxy for housing costs, drove up the price of the partridge and pear tree to $370.18. Services such as performers experienced the steepest increases, reflecting broader labor market trends, as workers have demanded higher wages from employers who benefited from wage stagnation for over 20 years.
Why This Matters: The index, now in its 41st year, illustrates economic patterns and consumer behavior. Rising wages for skilled labor pushed the cost of performers like drummers and dancers up 7.9%.
What’s Next: PNC’s interactive Christmas Price Index website continues to provide a fun yet insightful look at inflation’s impact on holiday traditions. It remains a unique tool for understanding the broader economic shifts while adding some festive cheer to the numbers.
For more on the index or holiday spending insights, visit PNC’s dedicated site.
B.T. Clark
B.T. Clark is an award-winning journalist and the Publisher of The Georgia Sun. He has 25 years of experience in journalism and served as Managing Editor of Neighbor Newspapers in metro Atlanta for 15 years and Digital Director at Times-Journal Inc. for 8 years. His work has appeared in several newspapers throughout the state including Neighbor Newspapers, The Cherokee Tribune and The Marietta Daily Journal. He is a Georgia native and a fifth-generation Georgian.
