FIRST ON FOX: The Republican Party is seizing on the rising cost of holiday celebrations, bashing President Biden’s economic policy as the reason for the fiscally tight season.
A new digital ad being rolled out by the Republican National Committee (RNC), previewed exclusively by Fox News Digital, features news clips talking about the rising cost of celebrating Christmas. It chalks it up to the rising cost of living under the Biden administration.
"This holiday season, Bidenomics has made everything from Christmas trees to gifts unaffordable for middle-class families," RNC Chairwoman Ronna McDaniel told Fox News Digital.
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"While Americans struggle to stay afloat, we’re reminding them who the real Grinch is this Christmas: Joe Biden," she said.
The average cost of a Christmas tree has gone up 10% from last year, according to the American Christmas Tree Association. The average cost of one runs between $80 and $100, the group said.
Meanwhile, a November 2023 survey from Wallethub, cited in the video, found that more than 30% of Americans would forgo buying gifts this year due to inflation.
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The RNC’s video also points out that a quarter of respondents said they still have holiday debt from last year’s season.
"Food costs are up 20% on a two-year basis… 42% expect to pay more for holiday gifts due to inflation," the montage of voiceovers in the video says. "You're buying less apparel, less items for your home, fewer toys… More than one in three Americans are talking about forgoing gifts altogether because of inflation."
PNC Bank’s annual calculation of the cost of the "12 Days of Christmas," a holiday tradition, has shown that the price tag on those famous items has risen as well.
Based on data by the Bureau of Labor Statistics, one would spend $46,729.86 to bring each line of the famous Christmas carol to life – a 2.7% increase from last year.
That’s less than the 10.5% price hike that PNC Bank calculated between 2021 and 2022.
