For nearly three decades, the folks at PNC Financial have tabulated the cost for each of the 12 gifts named in the tune and then added them all up to figure out its Christmas Price Index.
This year, buying one of each gift will cost you $25,431.18, a 4.8% increase over last year’s total.
But for the “True Cost of Christmas” — each gift multiplied by its associated number in the song — you’re looking at $107,300.24. That’s 6.1% higher than in 2011.
Many items on the list remained flat from 2011 — the partridge, the turtle doves, the calling birds, the maids-a-milking, ladies dancing, and lords-a-leaping all showed no change in price. But a small number of already pricey gifts saw substantial price increases.
The most expensive item remains the swans, which now run you $7,000 a pop, an 11.1% increase from 2011. And while that partridge might not cost you any more this year, the price of the pear tree on which it’s perched will ding your wallet for 11.8% more than it did in 2011, meaning you’ll be paying $189.99.
The largest price increase was for the geese, which soared 29.6% to $210 each this year. Those gold rings also had a significant price jump, up 16.3% to $750 per ring.
“The rise the PNC CPI index is larger than expected considering the modest economic growth we’ve had over the past 12 months,” said Jim Dunigan, managing executive of investments for PNC Wealth Management. “Despite some weak spots in the economy, consumer balance sheets are improving along with consumer confidence, which means this may still be a spirited holiday season.”
FYI, in 28 years of doing the Index, PNC says that 1995 had the lowest True Cost of Christmas ever, with only $51,000 needed to reenact all 12 days.