http://www.pncbank.com/12days/
PITTSBURGH, Dec. 8, 2003 – While stiff import competition is driving
deeper discounts on merchandise sold in the United States, skilled labor
cost is on the rise, resulting in a 16 percent increase in this year’s
PNC Advisors Christmas Price Index – the biggest jump the Index has seen
in its 19-year history.
Each year since 1984, PNC Advisors has provided a tongue-in-cheek
economic analysis, based on the cost of the goods and services purchased
by the True Love in the holiday classic, “The Twelve Days of Christmas.”
Indeed, the cost of the five gold rings dropped by 5.6 percent, and the
pear tree is down a full 28.6 percent from last year. However, these
discounts were offset by the dancers, pipers and drummers who have seen
significant increases in the cost of their services over 2002...
....As part of its annual tradition, PNC Advisors also tabulates the
“true cost of Christmas,” which is the total cost of all of the items in
the famous carol, including all of the repetitions. The price tag for
the 364 items this holiday season is $65,264, up from 2002’s true cost
of $54,951. This increase of nearly 19 percent shatters the previous
record increase of 8.4 percent that was achieved in 1987.
--
Fred Stone
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