Twelve Days
of Christmas
Costs Moderate
You talking about
me?
Historically low unemployment rates which only recently increased
makes ladies dancing, lords-a-leaping, pipers piping and drummers
drumming more expensive this year, says the 22nd annual PNC
Christmas Price Index. The tongue-in-cheek economic analysis by PNC
Wealth Management is based on the costs of gifts in the classic
holiday song.
The total "Twelve Days of Christmas" cost is $18,920 in 2006, a 3.1 percent increase over last year. Except for the 2000-2001 recession, prices have been climbing steadily since 1995. This rise largely mirrors the Consumer Price Index, the most widely used federal measure of inflation.
Source: PNC Financial Services Group
Tight Labor Market
In a reflection of 2006's tight labor market, maids-a-milking (paid
2006's federal minimum wage of $5.15 per hour) were the only service
providers not to see an increase this year. Ladies dancing were up 4
percent, lords-a-leaping and pipers piping 3 percent each, drummers
drumming 3.4 percent.
The largest increases
were in pear trees, a shocking
44.4 percent increase,
due to increased fuel costs and 2006's robust construction sector
with its insatiable need for ornamental trees.
|
PNC Christmas Price Index - 2006 |
|||
|
|
|
|
% Change |
|
|
2005 |
2006 |
2006/05 |
|
One Partridge in a Pear Tree |
$ 104.99 |
$ 144.99 |
38.1% |
|
Partridge |
$ 15.00 |
$ 15.00 |
0.0% |
|
Pear Tree |
$ 89.99 |
$ 129.99 |
44.4% |
|
Two Turtle Doves |
$ 40.00 |
$ 40.00 |
0.0% |
|
Three French Hens |
$ 45.00 |
$ 45.00 |
0.0% |
|
Four Calling Birds |
$ 399.96 |
$ 479.96 |
20.0% |
|
Five Gold Rings |
$ 325.00 |
$ 325.00 |
0.0% |
|
Six Geese-a-Laying |
$ 300.00 |
$ 300.00 |
0.0% |
|
Seven Swans-a-Swimming |
$ 4,200.00 |
$ 4,200.00 |
0.0% |
|
Eight Maids-a-Milking |
$ 41.20 |
$ 41.20 |
0.0% |
|
Nine Ladies Dancing |
$ 4,576.14 |
$ 4,759.19 |
4.0% |
|
Ten Lords-a-Leaping |
$ 4,039.08 |
$ 4,160.25 |
3.0% |
|
Eleven Pipers Piping |
$ 2,053.20 |
$ 2,124.00 |
3.4% |
|
Twelve Drummers Drumming |
$ 2,224.30 |
$ 2,301.00 |
3.4% |
|
|
|
|
|
|
Total Christmas Price Index |
$ 18,348.87 |
$ 18,920.59 |
3.1% |
Source: PNC Financial Services Group
Many costs were flat, however: Gold rings rose 27.5 percent from 2004 to 2005 but not at all from 2005 to 2006 due, theorizes the survey, not to depressed gold prices but lessened demand. Geese-a-laying similarly rose 43 percent from 2004 to 2005 but not from 2005 to 2006. And prices for partridges, turtle doves and french hens -- what is it with all these birds? -- didn't rise at all from 2004 to 2006, once prices have been adjusted for inflation.
And, lest you think 'tis all too old-school, the
survey also calculates the cost of Twelve Days gifts purchased on
the Web -- another shocker. This year's total costs were 3.4 percent
above last year's.
Perhaps even ye most Medieval retailer has gone wi-fi.
For more information, visit the
PNC
Christmas Price Index website.
