Lords-a-leaping are costly

The cost of items in “The Twelve Days of Christmas” have seen huge spikes for items, including the five golden rings (39%), compared to last year, leading to a total price tag of $45,523.27.

PITTSBURGH — True love costs a lot more this year, as record-high inflation drives PNC’s 39th annual Christmas Price Index up 10.5%, the third highest year-over-year increase in the index’s history. The PNC CPI, a lighthearted take on the Bureau of Labor Statistics’ Consumer Price Index, measures the average change in prices that consumers should expect to pay for True Love’s gifts, outlined in the classic holiday carol, “The Twelve Days of Christmas.”

“True Loves will need to come up with a record $45,523.27 to buy those 12 perfect gifts this year,” Amanda Agati, chief investment officer for PNC Asset Management Group, said. “This is a disquieting development for many, as pandemic-related supply chain disruptions and elevated energy and commodity prices continue to impact the cost of goods and services. Despite True Loves’ generous intentions, the gifts that make up the PNC CPI are not well-insulated from what is being experienced across the broader economy.”

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