Christmas Price Index - Results

Results

Like other light hearted economic indicators, such as The Economist's Big Mac Index which tracks the price of the Big Mac hamburger in different countries, the Christmas Price Index nevertheless produces results which have meaningful interpretations.

In general, the prices in the index have reflected the United States's growing service economy—prices for goods have mostly fallen, but prices for labor have risen greatly. The cost of hiring ladies and lords, for example, has risen over 300 percent. After the high cost of the dancers, the seven swans are the most expensive item on the index; the unpredictable breeding cycle of swans makes their supply uncertain. Much as the United States Consumer Price Index excludes volatile energy and food prices from its "core" index, the core Christmas Price Index excludes the swans; for 2008, the total price index rose 8.1% from 2007, while the core index rose only 1.1%. The cheapest item in the index is the partridge, which, in 2008, could be purchased for $20. Costs have generally risen and fallen along with the standard Consumer Price Index.

The survey also tracks the cost of ordering the items online; doing so is significantly more expensive, in part due to shipping costs. In 2008, PNC estimated the total cost at $31,956.62, up 2.3% from 2007, while purchasing all 364 items online would cost $131,150.76, an increase of 1.8%. However, if the buyer were to purchase each item from the least-expensive vendor, the total index would be $19,844.95, a discount of 5.86%.