TRUE LOVE FEELS STICKER SHOCK WITH A 10.5 PERCENT HIKE IN PNC CHRISTMAS PRICE INDEX
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Thursday, November 17, 2022
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PITTSBURGH, Nov. 17, 2022 /PRNewswire/ -- True love costs a lot more this year, as record-high inflation drives PNC's 39th annual Christmas Price Index (PNC CPI) up 10.5%, the third highest year-over-year increase in the index's history.
Key Points:
- PITTSBURGH, Nov. 17, 2022 /PRNewswire/ -- True love costs a lot more this year, as record-high inflation drives PNC's 39th annual Christmas Price Index (PNC CPI) up 10.5%, the third highest year-over-year increase in the index's history.
- Despite True Loves' generous intentions, the gifts that make up the PNC CPI are not well-insulated from what is being experienced across the broader economy."
- This year, services in the PNC CPI, represented primarily by the performers, are up 14.5% while goods increased just 4.2%.
- The annual PNC CPI tradition includes calculating the "True Cost of Christmas," which is the total cost of items bestowed by a True Love who repeats all the song's verses.