Thursday, December 23, 2010
Inflation spikes the twelve days of Christmas
Bad news for those that might be inclined towards the more traditional of gift giving this Christmas season, the annual inflation index of the Twelve Days of Christmas has gone up 9.25 per cent this year, an increase on the fabled list that will set you back some $23,439.38 should you wish to fulfill each and every one of those gifts from the Twelve Days.
Since 1984 PNC Bank Financial in the United States has been tracking the cost of each of the twelve gifts from the twelve days, providing as only accountants and financial advisors could a comprehensive report on the cost to your pocket book should the spirit of the season get the best of you.
The inflationary spiral for 2010 goes as follows from the PNC Christmas index:
The Partridge in the Pear tree costs 1.3 per cent more this year
Two Turtle Doves jumped up 78.6 per cent in 2010
Three French Hens had the most inflationary spike at 237 per cent
Four Calling birds proved to be a bargain holding steady with no increase in 2010
Five Gold Rings jumped 30 per cent in the last year
Six Geese a laying are a bargain this year with no increase in their cost
Seven Swans a swimming went up 6.7 per cent
While the Eight Maids a Milking are holding down the costs this year with no increase
9 Ladies Dancing moved the index up 15 per cent in the last 365 days
The 10 Lords a Leaping, inched the index up 10 per cent this year
Eleven pipers piping make their noise with only a 3.1 per cent jump for 2010
and 12 Drummers drumming banged out a 3.1 per cent increase for this Christmas season.
The PNC website offers up a rather entertaining interpretation of this years price index, using a format that perhaps should be utilized by banks and financial investment representatives everywhere in delivering financials.
After all it's not every day that your financial spreadsheets come in an inter active pop up book format, could make a world of difference in Mutual fund interpretation we imagine.
You can gather the young ones around the computer screen and break out the calculators as PNC calculates the potential extravagance of gift giving here..
For those that prefer their information in the old ancient ways of a written report, the New York Times provided a handy recap of events here, but even they recommend a look over the PNC presentation.
If after all your financial calculations are finished you feel that perhaps the more traditional of the Twelve Days of Christmas is out of reach, there's always the Canadian alternative list.
A collection of gifts which may be a little more cost effective, but perhaps not quite as traditional, sentimental or romantic for that matter...