The fabled true love of Christmas might be better off giving diamonds and flat screens than lords-a-leaping and a partridge in a pear tree, according to PNC Wealth Management. The organization, which calculates the cost of the 364 items listed in “The Twelve Days of Christmas” annually reports the gifts described in the traditional Christmas carol total a whopping $107,300 this year—a 6.1 percent increase over 2011’s total of $101,119.
“The rise is larger than expected considering the modest economic growth we’ve had,” PNC managing executive of investments Jim Dunigan said.
Several factors account for the steep increase, which is far beyond the 2 percent rise in the Consumer Price Index. For starters, this summer’s drought in the Midwest caused the price of feed to skyrocket, which in turn increased the price of the six geese-a-laying—given on seven of the 12 days. Likewise, the price of the seven swans-a-swimming, which PNC calls the “most volatile” market, rose 11 percent from $6,300 last year to a full $7,000. Fortunately, the cost of other birds—the partridge, turtle doves and calling birds—remained the same. In fact, the three French hens were discounted by $5 this year.
The rising price of gold also impacted the overall cost of Christmas this year. The five golden rings, given on eight of the 12 days of Christmas, cost $750, up $95 from 2011. The cost of pear trees also went up by $20 to $190.
The costs of some gifts are affected by the labor market. The price of eight maids-a-milking did not change since there was no change in the minimum wage in the past year, and remains at $58–$7.25 an hour. On the other hand, wages for skilled workers increased an average of 5.5 percent. Therefore the 11 pipers-piping—given on two days—and 12 drummers-drumming increased to $2,562 and $2775.50, respectively. There was no change in the cost of 10 lords a-leaping, which ring in at $4,767 for each of the 10 days they are gifted.
True lovers won’t save money by comparison shopping for the gifts online, either. PNC noted that doing so actually increases the overall cost once shipping charges are included, especially considering the high costs associated with shipping live birds.
PNC has tabulated the cost of “The 12 Days of Christmas” annually since 1984 when the sum of all 364 gifts was less than half of this year’s tally. The PNC financial group researches each year’s cost by checking with jewelry stores, dance companies, pet stores and other retailers. It even checked certain items’ prices with sources such as the National Aviary in Pittsburgh, the Pennsylvania Ballet Company and modern dance studio Phildanco.
