PITTSBURGH — Lords a-leaping is the U.S. economy slow to recover!
The cost of 10 lords a-leaping increased 3 percent over last year, but nine of the other 12 gifts listed in the carol “The Twelve Days of Christmas” stayed the same price as last year, according to the 32nd annual PNC Wealth Management Christmas Price Index released Monday.
The index is a whimsical way the Pittsburgh-based bank tracks inflation.
The set of gifts spelled out in the final verse of the song would cost $34,131 this year, or 0.6 percent more than the adjusted 2014 price of $33,933. PNC decided to adjust the historic prices of turtle doves and swans after realizing the prices quoted by vendors didn’t reflect the birds’ overall value on the open market over the years.
“The headline, I think, is that inflation in this economy, with the sort of tepid recovery we’ve seen, is almost nonexistent,” said Jim Dunigan, chief investment officer of PNC’s