23: PNC Christmas Price Index

Everyone knows the 12 Days Of Christmas lyrics but with some pretty outlandish presents being given in the song, it’s the 12 Days Of Christmas cost that most people want to know about. The PNC Christmas Price Index measures the price of those 12 presents, pitting it against previous years to not only be a fun little anecdote but to help measure inflation. This year with the coronavirus pandemic impacting everyone and every business, the PNC Christmas Price Index looks quite a bit different.

What the PNC Christmas Price Index means for you

On this week’s episode, Kelly is joined by Amanda Agati -- one of the analysts/writers of the PNC Christmas Price Index -- to discuss the process of creating the list and what it all means for consumers and businesses alike. Kelly and Amanda also talk about how the list has changed over the years, and how this year might bring some sweeping changes to how shopping is done and the cost of goods and services when the pandemic is over.

Listen to Kelly and Amanda talk about the PNC Christmas Price Index:

• The PNC Christmas Price Index (CPI) is based on the 12 Days Of Christmas lyrics
• The government’s Consumer Price Index and what it means
• How COVID-19 impacted the PNC Christmas Price Index in 2020
• What the PNC Christmas Price Index really tells us about the economy as a whole
• The gifts that have seen the most inflation from last year
• What trends have driven the change in prices
• The price of gold vs. the price of gold rings
• The difficulties of creating the PNC Christmas Price Index this year
• Why the increase of e-commerce purchases this year could affect future years
• The change from being a service-based economy to goods-based due to COVID-19 and whether it’ll change back in 2021
• How the delivery of services and goods has changed during the pandemic and how that might alter pricing in the future
• The economic outlook for 2021

 

More about Kelly Phillips Erb:

Kelly is the creator and host of the new Taxgirl podcast series. Kelly is a practicing tax attorney with considerable experience and knowledge. She works with taxpayers like you every day. One of the things that she does is help folks out of tax jams, and hopefully, keep others from getting into them.

Links mentioned:

Kelly’s Website – Taxgirl

PNC’s Christmas Price Index