Its known to all and seen by all the great downfall that hit the world economy, though there has been a recovery but it has been sluggish and low on inflation. Despite the hindrances and these facts in hand the PNC Christmas Price Index of 2010 surged by 9.2 % as per the PNC as predicted by economic analysis of PNC Wealth Management. The estimates are on the basis of the gifts included in the holiday classic “The Twelve Days of Christmas.” The Christmas Price Index calculates all the costs items in the song “The Twelve Days of Christmas”. This Index is an economic indicator which is calculated by U.S. bank PNC Financial Services.
The PNC Wealth Management takes together “Christmas Price Index” & “The True Cost of Christmas” and calculates the cost taking into account the costs items in the carol “The Twelve Days of Christmas”. It is calculated in a systematic manner taking into account as the instructions of the songs which includes the various items in “The Twelve Days of Christmas”.
In the 27th annual survey by PNC CPI in the year 2010 the price tag was $23,439 which is $1,974 greater as compared to that of last year. It is one of the largest jumps ever and the best in terms of the percentage jump. In the year 2003 it recorded a jump of about 16% and a modest increase of 1.8% last year.
The Managing executive of investments for PNC Wealth Management stated the main reason behind the jump in PNC CPI this year was due to price rise in gold commodity that is represented by Five Gold Rings and it surged up to 30 %. In addition to this there was increase in the costs of wages and benefits impacted some entertainers.
Both indexes get affected but PNC CPI’s surge is very contrasting to CPI index of the government which shows a surge of merely 1.1 % which demonstrates the difference in the size of the two indexes in terms of goods and services.