Fa La La La La: Holiday Labor Costs Rise

Chart of the Week for December 21-27, 2001

NOTE: This week’s Chart of the Week is for entertainment purposes only.

You’ll have to reach a little farther into your pocket this year to surprise your sweetie with Piping Pipers and Drumming Drummers. Despite rising unemployment and an economy in recession, the Christmas Price Index, tracked by PNC Advisors, shows the overall cost of the "12 Days of Christmas" rose 3.5% over last year. According to PNC Advisors, the whole package will lighten your wallet to the tune of $15,748 or $62,935 if you factor in the carol’s repetitions.

Like last year, musical workers commanded the largest increase. Wages for Pipers and Drummers are 5% higher than in 2000. Leaping Lords and Dancing Ladies also received raises — 3% and 2%, respectively. Milking Maids, however, were unable to negotiate higher pay for the fifth consecutive year.

Soaring gold prices were the largest contributor to this year’s increase. Five Golden Rings cost 50% more than last year, due to the desirability of hard assets in times of recession. Relatively unchanged prices for avian livestock (such as French hens) helped offset this, and moderated the overall change in the index.

Merry Christmas and Happy New Year!

* This information is being provided for educational purposes and is not intended to be construed as or relied upon as investment advice. ICMA-RC does not offer specific tax or legal advice. Individuals are advised to consider any new investment strategies carefully prior to implementing. Past performance does not guarantee future results. Investment returns and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data illustrated. For performance data current to the most recent month end, contact ICMA-RC Services, LLC by calling 1-800-669-7400 or by writing to 777 North Capitol Street, NE, Washington, DC 20002-4240, or by visiting www.icmarc.org. Please consult both the current Vantagepoint Funds prospectus and MAKING SOUND INVESTMENT DECISIONS: A Retirement Investment Guide carefully for a complete summary of all fees, expenses, charges, financial highlights and investment objectives, risks and performance information prior to investing any money. Vantagepoint securities are distributed by ICMA-RC Services LLC, a broker dealer affiliate of ICMA-RC, member NASD/SIPC. For a current prospectus, contact ICMA-RC Services LLC, 777 North Capitol Street NE, Washington, DC 20002-4240. 1-800-669-7400.