Tags: 12 days of christmas | cost | increase | pnc wealth management index

'12 Days of Christmas' Items Cost $34K, Up 0.6 Percent From Last Year

Image: '12 Days of Christmas' Items Cost $34K, Up 0.6 Percent From Last Year
(Balint Radu/Dollar Photo Club)

By    |   Tuesday, 01 Dec 2015 09:52 AM

"The 12 Days of Christmas" cost rose once again in 2015, but only slightly thanks to a decline in energy costs, a lower inflation rate, and a steadily growing economy, according to the PNC Wealth Management Christmas Price Index.

The 32nd annual index, the bank's creative way of measuring inflation, found that the price of all the "gifts" listed in the Christmas carol (you know, two turtle doves) grew by 0.6 percent, its slowest rate in six years, for a total price tag of $34,131, according to The Associated Press. A statement from PNC Wealth Management said that's $198 more than what it would cost to purchase the items in 2014.

"While the economy continues to chug along on a sustainable path, low commodity prices are keeping consumer costs down," Jim Dunigan, chief investment officer of PNC Asset Management Group, said in a statement. "With only a few items in our index increasing in cost this year, True Loves should be thrilled that they can have their goose and better afford the gas to roast it too."

PNC reported that the cost of the partridge in a pear tree jumped 3.5 percent because of the partridge's increased popularity as a gourmet food along with backyard farming. Turtle doves increased by a steep 11.5 percent because of higher grain prices.

The lords-a-leaping got a pay raise, costing true loves an additional 3 percent this year because of salaries, noted PNC.

"While the cost of the lords went up, the prices for the eight maids-a-milking, the only unskilled workers in the CPI, held steady for the sixth straight year: that's because the federal minimum wage hasn't risen since 2009," wrote Kelly Phillips Erb, of Forbes magazine.

"Nine of the 12 items in the index cost the same as they did last year. That was true even for the five gold rings, which have remained the same for the past two years, despite the drop in gold commodity prices," she added.

Here are all of this year's prices:

Partridge, $25

Pear tree, $190

Two turtle doves, $290

Three French hens, $182

Four calling birds (canaries), $600

Five gold rings, $750

Six geese-a-laying, $360

Seven swans a-swimming, $13,125

Eight maids a-milking, $58

Nine ladies dancing (per performance), $7,553

10 lords a-leaping (per performance), $5,508

11 pipers piping (per performance), $2,635

12 drummers drumming (per performance), $2,855

PNC Wealth pointed out that, if one takes the song literally since it repeats itself with each verse, the true cost of the total list will run your true love $155,407.18.

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"The 12 Days of Christmas" cost rose once again in 2015, but only slightly thanks to a decline in energy costs, a lower inflation rate, and a steadily growing economy, according to the PNC Wealth Management Christmas Price Index.
12 days of christmas, cost, increase, pnc wealth management index
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Tuesday, 01 Dec 2015 09:52 AM
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