Sunday, December 04, 2005

Cost of 12 Days of Xmas Up Over 6% This Year!


By Elaine Meinel Supkis

Here is an amusing little economic chart which tracks the cost of the many gifts my true love is supposed to give to me but hasn't, obviously. Getting all those pipers and drummers can be a problem espcially is they annoy the neighbors too much.

From PNC Financial Advisors:
Annual 12 days of Christmas Inflation Index.It all started 21 years ago as a way to engage clients and has since grown into one of PNC’s most popular and anticipated economic reports: The Annual
PNC Christmas Price Index.

PNC calculates the Christmas Price Index each year as a fun, lighthearted way to look at the increasing cost of goods and services bought by the True Love in the holiday classic, “The Twelve Days of Christmas.”
An eye-opener, for sure.

We all know the feeble gauges for inflation have grossly understated the real rate of inflation and this chart shows pretty clearly how the price of gold rings and turtle doves has skyrocketed. Food, energy and precious metals are all much higher in cost. I know that inflation has been squeezing my own budget pretty hard. Local taxes are way up, too, as well as fees and costs of mechanical repairs and all other things can can be raised with impunity.

Thank you, PNC, for revealing the truth. Inflation is over 6% which means that interest rates are still "giving money away." Of course, the Japanese interest rate is 0% which is totally ridiculous. I wonder why they won't loan me any money a that rate. Har.

Well, I hope my True Love has Deep Pockets this xmas! (By the way, the 12 days gift giving is very pagan, heh!)

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