Post by IAMCAPER on Dec 1, 2005 9:38:07 GMT -4
True cost of Christmas: $18,348.87
You think saving for a new flat-panel plasma television or iPod Nano for the holidays is daunting? Be thankful you don't have to save for the original gifts of the "12 Days of Christmas."
To buy the partridge in a pear tree, the 12 drummers drumming and all the gifts in between in the verses of the famous song you'd have to shell out $18,348, according to PNC Advisors' annual survey. And if you were really true to the song, buying all the gifts including the repetitions? Those 364 items would cost a cool $72,608, up 9.5% from last year's $66,344.
This year's headlines had an impact on the index. Avian flu? Those swans and geese are going to cost you more because of a spike in the price of large birds. And the French hens? You can't import them from France this year -- though there are domestic suppliers. Meanwhile, energy prices are driving up some delivery costs.
The bling will cost you more
The holiday survey is used as a tongue-in-cheek indicator of inflation, though this year's increase in the Christmas Index outpaces the government's measurement. PNC's Christmas Price Index is up 6.1% from 2004. The core Christmas index -- excluding the swans -- is up just 2.6% this year, though.
Inflation fears have stoked the price of gold, and so you'll have to dig a little deeper if you want those five gold rings. They'll cost you $325, up 27.5% from last year. The jump in price for those six geese -- up 42.9% to $300 -- outstripped even the hike in gold bands, though.
“The Christmas Price Index reflects the economic trends that we have witnessed during the past year,” Jeff Kleintop, chief investment strategist for PNC Advisors, said in a statement. “Not only are avian flu fears and fuel costs driving prices higher, but gold prices are also on the rise. Meanwhile, wages for skilled laborers are struggling to keep up with rising expenses.”
Not much to leap about
The prices in one area of the index seem to be holding steady. The wages of Maids-a-Milking, Lords-a-Leaping, Pipers Piping and Drummers Drumming did not budge in 2005, PNC Advisors reported, demonstrating that it was a difficult year to keep up with higher costs of living.
According to Philadanco, the Philadelphia Dance Company, the Nine Ladies Dancing received a pay raise of 4%, but they were the only lucky ones to get a raise this year.
PNC also checks the cost of Christmas on the Internet, which is significantly higher. The Christmas Internet Index rose 5.7% to $29,322.80 primarily because of shipping costs, up due to rising fuel prices, PNC said.
Any way you look at it, bringing the song to life is an expensive proposition, romantic though it may be. Maybe your true love would just rather have the cash.
You think saving for a new flat-panel plasma television or iPod Nano for the holidays is daunting? Be thankful you don't have to save for the original gifts of the "12 Days of Christmas."
To buy the partridge in a pear tree, the 12 drummers drumming and all the gifts in between in the verses of the famous song you'd have to shell out $18,348, according to PNC Advisors' annual survey. And if you were really true to the song, buying all the gifts including the repetitions? Those 364 items would cost a cool $72,608, up 9.5% from last year's $66,344.
This year's headlines had an impact on the index. Avian flu? Those swans and geese are going to cost you more because of a spike in the price of large birds. And the French hens? You can't import them from France this year -- though there are domestic suppliers. Meanwhile, energy prices are driving up some delivery costs.
The bling will cost you more
The holiday survey is used as a tongue-in-cheek indicator of inflation, though this year's increase in the Christmas Index outpaces the government's measurement. PNC's Christmas Price Index is up 6.1% from 2004. The core Christmas index -- excluding the swans -- is up just 2.6% this year, though.
Inflation fears have stoked the price of gold, and so you'll have to dig a little deeper if you want those five gold rings. They'll cost you $325, up 27.5% from last year. The jump in price for those six geese -- up 42.9% to $300 -- outstripped even the hike in gold bands, though.
“The Christmas Price Index reflects the economic trends that we have witnessed during the past year,” Jeff Kleintop, chief investment strategist for PNC Advisors, said in a statement. “Not only are avian flu fears and fuel costs driving prices higher, but gold prices are also on the rise. Meanwhile, wages for skilled laborers are struggling to keep up with rising expenses.”
Not much to leap about
The prices in one area of the index seem to be holding steady. The wages of Maids-a-Milking, Lords-a-Leaping, Pipers Piping and Drummers Drumming did not budge in 2005, PNC Advisors reported, demonstrating that it was a difficult year to keep up with higher costs of living.
According to Philadanco, the Philadelphia Dance Company, the Nine Ladies Dancing received a pay raise of 4%, but they were the only lucky ones to get a raise this year.
PNC also checks the cost of Christmas on the Internet, which is significantly higher. The Christmas Internet Index rose 5.7% to $29,322.80 primarily because of shipping costs, up due to rising fuel prices, PNC said.
Any way you look at it, bringing the song to life is an expensive proposition, romantic though it may be. Maybe your true love would just rather have the cash.