THE NORTH POLE–Thanks to low inflation, buying all the gifts mentioned in the holiday classic “The 12 Days of Christmas” in 2016 is only slightly more expensive than it was in 2015.
But it will also cost you more to buy your French Horns online.
As it does every year, PNC calculates the total cost of all 78 units that are mentioned in the song, from Partridges in Pear Trees to Lords A Leaping. This year, PNC said the cost is $34,364, just $199 more than last year and the second smallest year-over-year increase since 2002. It also released what it calls the "True Cost of Christmas," which accumulates the total cost of all 78 units (364 gifts) that are mentioned in the song due to the repeated lyrics, which it said is $156,508 this year.
According to PNC, the cost of eight of the 12 items remained virtually unchanged. As any credit union making Turtle Dove loans knows all too well, the cost of the birds is up an astonishing 29.3%. But at the same time, for those CUs holding a different bird as collateral, the cost of partridges has declined by 20%.
Excluding Swans-a-swimming, which PNC notes are a volatile commodity, the "core" index rose 1.1% to $21, 238.
Among the other data related to the 12 Days of Christmas, according to PNC:
- Costs for both Lords-a-leaping and Ladies-Dancing were unchanged for the year. Perhaps reflective of wage inequality, the Lords saw 3% increase in 2016, while the Ladies Dancing saw little price increase. Moreover, the cost for the eight Maids-a-Milking (the only unskilled workers in the index), hasn't changed in more than seven years.
- The price to hire Pipers-Piping and Drummers-Drumming each rose by 2.8%.
- Despite an 8% increase in gold prices from last year, the cost of Golden Rings was unchanged for the third consecutive year.
PNC noted that shoppers who go online to purchase all the items in the 12 Days of Christmas will find an alternative Internet-price tag of $44,602, about $10,239 higher than buying at the store and $976 higher than in 2015.