Click here to close now.



Welcome!

Agile Computing Authors: Sanjay Zalavadia, Xenia von Wedel, Pat Romanski, Elizabeth White, Liz McMillan

News Feed Item

Is The Economy Feeling The Holiday Spirit? PNC Christmas Price Index Surges 4.8 Percent In 2012

- Prices for Six Items in "The Twelve Days of Christmas" Song on Par With 2011, But Drought Causes Swans and Geese Prices to Soar -

PITTSBURGH, Nov. 26, 2012 /PRNewswire/ -- An improving economy coupled with a severe drought that caused increased feed costs for large birds generated a 4.8 percent surge in the 2012 PNC Christmas Price Index®, the whimsical economic analysis by PNC Wealth Management.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/42897-pnc-christmas-price-index

(Photo:  http://photos.prnewswire.com/prnh/20121126/MM14988LOGO-a )

(Photo:  http://photos.prnewswire.com/prnh/20121126/MM14988-INFO-b )

Based on the gifts in the holiday classic, "The Twelve Days of Christmas," the price tag for the PNC CPI is $25,431.18 in 2012, $1,168 more than last year. The CPI increased by a modest 3.5 percent last year following a 9.2 percent leap in 2010.

The 29th annual survey results were revealed this morning on an enhanced website (www.pncchristmaspriceindex.com) that includes an innovative worldwide gift hunt using the web. The website also reflects PNC's commitment to education by teaching economic trends through the PNC CPI.

This year, the PNC CPI's increase outpaced the government's Consumer Price Index, which stands at 2.2 for the past 12 months through September. The core index, removing volatile food and energy prices, is also at 2.0 percent.

"The rise of the PNC CPI is larger than expected considering the modest economic growth we've had over the past 12 months," said Jim Dunigan, managing executive of investments for PNC Wealth Management.  "Despite some weak spots in the economy, consumer balance sheets are improving along with consumer confidence, which means this may still be a spirited holiday season."

As part of its annual tradition, PNC Wealth Management also tabulates the "True Cost of Christmas," which is the total cost of items gifted by a True Love who repeats all of the song's verses. This holiday season is the most expensive year ever: very thoughtful True Loves must fork over $107,300.24 for all 364 gifts, an even more generous jump of 6.1 percent increase compared to last year.

Inflation Flag and Index Highlights

Much like the government's CPI, the PNC CPI also measures a Core Index – up a modest 2.6 percent this year - that excludes the Swans, which tend to be the most volatile in the index. Swans rose by 11.1 percent, continuing the momentum of last year's 12.5 percent increase, to $7,000.

Other Key Components Include:

  • Six items (the Partridge, Two Turtle Doves, Four Calling Birds, Eight Maids-A-Milking, Nine Ladies Dancing and 10 Lords-A-Leaping) remained the same price as last year.
  • Sounding an Increase: The prices for 11 Pipers Piping ($2,562.00) and 12 Drummers Drumming ($2,775.50) advanced this year, both up 5.5 percent.
  • Pear Tree: Economists report that housing prices may have bottomed and this trend is reflected in the PNC CPI as the home to the Partridge jumped 11.8 percent to $189.99. The Three French Hens were up 10.0 percent and the Five Gold Rings, which soared 16.3 percent, played catch up with the dramatic rise in gold prices in 2011.
  • Maids-a-Milking: As the only unskilled laborers in the PNC CPI, the price for the eight Maids-a-Milking is represented by the minimum wage.  With the minimum wage flat at $7.25 per hour, hiring the maids this year will not increase labor costs.

The PNC CPI's sources include retailers, the National Aviary in Pittsburgh and the Philadelphia-based Philadanco and Pennsylvania Ballet Company.

Cyber Prices: The Cost of Convenience

For those True Loves who prefer the convenience of shopping online, PNC Wealth Management calculates the cost of "The Twelve Days of Christmas" gifts purchased on the Internet.

This year, the trends identified in the traditional index are repeated in the Internet version. True Loves will pay a grand total of $40,440 to buy the items online. That is 1.5 percent more expensive than last year and almost $580 more than this year's traditional index.

"In general, Internet prices are higher than their non-Internet counterparts because of premium shipping costs for birds and the convenience factor of shopping online," Dunigan said.

Special Present: Updated Website

For a historical look at PNC's index, the updated website can be viewed at www.pncchristmaspriceindex.com.  The site includes an interactive scavenger hunt where visitors take a trip around the world to locate the 12 gifts of Christmas.

Each year, educators across the country use the Christmas Price Index to teach economic trends to middle and high school students. With that in mind, this year's site includes interactive activities, annual results and PNC CPI trends in a Flash presentation, MP3 downloads and much more. 

Educators who visit the site will also find lesson plans on the Christmas Price Index from The Stock Market Game (SMG), a program of the Securities Industry and Financial Markets Association Foundation for Investor Education (www.sifma.org/education). The enhanced activities are specially designed to help students identify economic trends and to project their impact on this year's Index, giving them the opportunity to make predictions and check their success against actual results. SMG is America's premier educational stock market simulation. Available in all 50 states for grades 4-12, the SMG program teaches children core academic and investment skills.

To view or download broadcast quality video and other multimedia assets related to this announcement, visit http://pnc.thedigitalcenter.com.  In addition, follow #PNCcpi on Twitter.

The PNC Financial Services Group, Inc. (NYSE: PNC) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.

[PNC CHRISTMAS PRICE INDEX TABLE FOLLOWS]

2012 PNC Christmas Price Index®










TRADITIONAL



INTERNET





% Change



% Change


2011

2012

2012/11

2011

2012

2012/11

One Partridge in a Pear Tree

$         184.99

$         204.99

10.8%

$            242.44

$         242.44

0.0%

     Partridge

$           15.00

$           15.00

0.0%

$              80.00

$           80.00

0.0%

     Pear Tree

$         169.99

$         189.99

11.8%

$            162.44

$         162.44

0.0%

Two Turtle Doves

$         125.00

$         125.00

0.0%

$            445.00

$         365.00

-18.0%

Three French Hen

$         150.00

$         165.00

10.0%

$            300.00

$         315.00

5.0%

Four Calling Birds

$         519.96

$         519.96

0.0%

$            520.00

$         550.00

5.8%

Five Gold Rings

$         645.00

$         750.00

16.3%

$            699.70

$         874.75

25.0%

Six Geese-a-Laying

$         162.00

$         210.00

29.6%

$         1,386.60

$      1,386.60

0.0%

Seven Swans-a-Swimming

$      6,300.00

$      7,000.00

11.1%

$       10,412.50

$    10,850.00

4.2%

Eight Maids-a-Milking

$           58.00

$           58.00

0.0%

$            337.92

$         339.84

0.6%

Nine Ladies Dancing

$      6,294.03

$      6,294.03

0.0%

$         8,322.55

$      8,322.55

0.0%

10 Lords-a-Leaping

$      4,766.70

$      4,766.70

0.0%

$       13,373.35

$    13,373.35

0.0%

11 Pipers Piping

$      2,427.60

$      2,562.00

5.5%

$         2,200.00

$      2,200.00

0.0%

12 Drummers Drumming

$      2,629.90

$      2,775.50

5.5%

$         1,620.00

$      1,620.00

0.0%








Total Christmas Price Index

$    24,263.18

$    25,431.18

4.8%

$       39,860.06

$    40,439.53

1.5%








True cost of Christmas in song

$  101,119.84

$  107,300.24

6.1%

$     174,382.93

$  177,957.93

2.1%








"Core" index, excluding swans

$    17,963.18

$    18,431.18

2.6%

$       29,447.56

$    29,589.53

0.5%

 

CONTACT:

Alan Aldinger
(412) 768-3711 
[email protected]

SOURCE PNC Wealth Management

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profession...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2016' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited t...
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.