Agile Computing Authors: Elizabeth White, Liz McMillan, John Mertic, Kevin Benedict, Yeshim Deniz

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.


2012 PNC Christmas Price Index®



% Change

% Change







One Partridge in a Pear Tree

$         184.99

$         204.99


$            242.44

$         242.44



$           15.00

$           15.00


$              80.00

$           80.00


     Pear Tree

$         169.99

$         189.99


$            162.44

$         162.44


Two Turtle Doves

$         125.00

$         125.00


$            445.00

$         365.00


Three French Hen

$         150.00

$         165.00


$            300.00

$         315.00


Four Calling Birds

$         519.96

$         519.96


$            520.00

$         550.00


Five Gold Rings

$         645.00

$         750.00


$            699.70

$         874.75


Six Geese-a-Laying

$         162.00

$         210.00


$         1,386.60

$      1,386.60


Seven Swans-a-Swimming

$      6,300.00

$      7,000.00


$       10,412.50

$    10,850.00


Eight Maids-a-Milking

$           58.00

$           58.00


$            337.92

$         339.84


Nine Ladies Dancing

$      6,294.03

$      6,294.03


$         8,322.55

$      8,322.55


10 Lords-a-Leaping

$      4,766.70

$      4,766.70


$       13,373.35

$    13,373.35


11 Pipers Piping

$      2,427.60

$      2,562.00


$         2,200.00

$      2,200.00


12 Drummers Drumming

$      2,629.90

$      2,775.50


$         1,620.00

$      1,620.00


Total Christmas Price Index

$    24,263.18

$    25,431.18


$       39,860.06

$    40,439.53


True cost of Christmas in song

$  101,119.84

$  107,300.24


$     174,382.93

$  177,957.93


"Core" index, excluding swans

$    17,963.18

$    18,431.18


$       29,447.56

$    29,589.53




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
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining senso...
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, discussed how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technologi...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...