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According to the 23rd annual survey by PNC
Financial Services, the cost of "The Twelve Days of Christmas" will
be $19,507 in 2007, a 3.1
percent increase over last year. The rise in gift prices mirrored the U.S.
government's Consumer Price Index -- a widely used measure of inflation
calculated by the Bureau of Labor Statistics. True Loves will have to pay a bit
more for the five Gold Rings this year, as jewelers report having no choice but
to pass increased prices along to consumers as the price of gold continues to rise. The price of five gold
rings now totals $395, a 21.5 percent increase over 2006 prices, but
still nowhere close to 1989 prices, when the five Gold Rings hit an all-time
high of $750. As the only unskilled laborers in the Christmas Price Index, the
eight Maids-a-Milking make minimum wage, and have not had a raise since 1997.
This year, Congress increased their wages by 13.6 percent; bringing the
cost of eight Maids-a-Milking for one hour of work to $46.80. The cost of most
performers in the index -- the Drummers Drumming, Pipers Piping and
Lords-a-Leaping -- rose a modest 3 to 4 percent. Only the price for the Ladies
Dancing was unchanged this year. For True Loves planning to serve six geese for
a holiday meal, this
item will be a bit more expensive," said PNC’s James Dunigan. "Food
prices have increased over the last year, which has not impacted birds
like Turtle Doves and Partridges, but has had an impact on birds traditionally
served as food, like Geese." Most of the other bird prices in the index
remained even with last year's rates, thanks to steady supply and demand for
Partridges, Turtle Doves, French Hens and Swans. Aside from the Geese-a-Laying,
only the Calling Birds will cost more in 2007.
PNC prices the Calling Birds
from a national pet store chain, and prices for Calling Birds (or canaries) were up 25 percent this year,
thanks to higher demand and increased shipping costs for retailers. As
part of its annual tradition, PNC also tabulates the "True Cost of
Christmas," which is the total cost of items gifted by a True Love who
repeats all of the song's verses. This holiday season, very generous True Loves
will pay more than ever before
-- $78,100 -- for all 364 items, up from $75,122 in 2006. Each year, educators
across the country use PNC’s Christmas Price Index to teach economic
trends to students of all ages – available at pncchristmaspriceindex.com.
Educators and parents who visit the site will find sample lesson plans and
activities for grades 4-12 on the Christmas Price Index.
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