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True Loves will get a bargain this year

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True Loves will get a bargain this year

PNC Christmas Price Index up a mere 0.6%.

Reflecting a steep decline in energy costs, lower inflation and slow-but-steady economic growth, the 2015 PNC Christmas Price Index experienced its lowest growth rate in six years at 0.6% in the whimsical economic analysis by PNC Wealth Management.

According to the 32nd annual report which measures the cost of the gifts in the holiday classic, "The Twelve Days of Christmas," the price tag for the PNC CPI is $34,130.99 in 2015, a mere $198 more than last year's cost and in-line with the government's Consumer Price Index, which has increased 0.2% over the past 12 months.

True Loves should be thrilled that they can have their goose and better afford the gas to roast it too."

"While the economy continues to chug along on a sustainable path, low commodity prices are keeping consumer costs down," said Jim Dunigan, chief investment officer, PNC Asset Management Group. "With only a few items in our index increasing in cost this year, True Loves should be thrilled that they can have their goose and better afford the gas to roast it too."

The cost of each item was revealed this morning on an interactive website (www.pncchristmaspriceindex.com) that teaches consumers about the index through a real-life gingerbread branch experience. 

Nine of the 12 items in the index maintained their cost this year.

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. The ultra-generous True Love will have to fork over $155,407 to pay for all 364 gifts, nearly $900 more than last year.

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