The cost of Christmas plus tracking Santa

For the last 23 years, PNC Wealth Management has calculated the cost of the items in the song “The Twelve Days of Christmas” if purchased at current market prices.  The “Christmas Price Index” shows the current cost of each of the gifts given, while the “True Cost of Christmas” is the cumulative cost of all the gifts with the repetitions listed in the song. 

It appears the significantly higher price of gold and increased compensation for minimum wage workers will make Christmas more expensive this year.   The price of gold has increased 21.5% over 2006 prices at a total of $395, but nothing close to 1989 when the five gold rings cost $750. 

The cost of milk maids will force you to dig deeper – Congress increased their wages by 13.6% – but they haven’t received an increase since 1997 so you really can’t complain.  The price of performers (Lords-a-Leaping, Drummers Drumming, Pipers Piping) has increased a modest 3 to 4 percent, while bird prices in the index remained even with last year’s rates.  Aside from the increased cost of Geese-a-Laying due to rising food prices, Calling Birds (canaries) are the only birds to see an increase of over 20 percent due to higher demand and increased shipping costs for retailers.

This year, the Total Christmas Price Index is $19, 507.25, a 3.1% change from 2006.  If your True Love springs for all the repetitions, he or she will spend $78,100 for 364 gifts, a 4% change from last year’s True Cost of Christmas.  If your True Love is an online shopper, traditional trends are repeated in the internet version of the index with an overall growth of 3%.  

No word on what it all costs to wrap.

Pretty packages and glittery gifts aside, thank you for another wonderful year of serving you on the air and online, it’s always an honor and a privilege.  I wish you peace, love and understanding this holiday season and the whole year through. 

Thanks for listening:)