CALIFORNIA BUSINESS MINUTE
The Cost of the 12 Days of Christmas
12-23-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
Based off of the popular winter song, “The 12 Days of Christmas” the Wealth
Management Department of PNC Bank has done a comparative analysis of the cost
of each holiday gift. In the 28th year of the survey PNC has found that the 12
items come out to a grand total of $24,263.18 which is $823.80 or a 3.5 percent
increase over last year’s $1,974 increase from 2009 to 2010. The jump from 2009
to 2010 marks the second highest increase in the history of the survey behind
the 2002 to 2003 rise of 16%.
The cost of the index has more than doubled since PNC began indexing the items
in 1984, when the price of one complete set was $12,673.
PNC Wealth Management identified that the increase in cost associated with survey
this year is due to some items having significant increases. For example, the
Swans a Swimming significantly went up in price. They were followed by the Pipers
Piping an Drummers Drumming
Seven out of the 12 gifts were either lower or remained at the same price over
the year as compared to four of the 12 gifts from last year
The most expensive item on the list was $6,294.03 to hire nine ladies dancing,
which remained the same from last year. The cheapest was $15 for one partridge,
which increased 25 percent.
I am Tim Johnson and this has been the California Business Minute.
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