PNC puts out annual 12 Days of Christmas price index

PITTSBURGH, Nov. 28, 2005 – Avian flu and energy prices are making it more difficult to get that perfect Christmas gift for your True Love this year as evident in the annual PNC Christmas Price Index, the tongue-in-cheek economic analysis by PNC Advisors based on the cost of goods and services gifted in the holiday classic, “The Twelve Days of Christmas.”

According to the 21st annual survey, the cost of “The Twelve Days of Christmas” is $18,348 in 2005, a 6.1 percent increase over last year. Increases in gift prices mirrored the U.S. government’s Consumer Price Index – a widely used measure of inflation calculated by the Bureau of Labor Statistics.

“The Christmas Price Index reflects the economic trends that we have witnessed during the past year,” said Jeff Kleintop, chief investment strategist for PNC Advisors. “Not only are avian flu fears and fuel costs driving prices higher, but gold prices are also on the rise. Meanwhile, wages for skilled laborers are struggling to keep up with rising expenses.”