Every year, for the past 38, PNC Bank has taken a lighthearted look at how much your true love will need to spend on the 12 Days of Christmas. The 2022 Christmas Price Index is up 10.5% over last year, which is the third highest jump in the history of the index.
How Much Will It Cost This Year?
Amanda Agati, chief investment officer for PNC Asset Management Group stated that the 12 Days of Christmas will cost a whopping $45,523.27. The index, which began in 1984, has risen in part due to “pandemic-related supply chain disruptions and elevated energy and commodity prices” which continue to impact the cost of goods and services.
The price of 5 Golden Rings have jumped the most this year but here is a break-down of all of the items:
- A Partridge in a Pear Tree: $280.18. An increase of 25.8%.
- Two Turtle Doves: $600. An increase of 33.3%.
- Three French Hens: $318.75. An increase of 25%.
- Four Calling Birds: $599.96. This remained flat.
- Five Golden Rings: $1245. An increase of 39.1%.
- Six Geese-A-Laying: $720. An increase of 9.1%.
- Seven Swans-A-Swimming: $13,124. This remained flat.
- Eight Maids-A-Milking: $58. The remained flat.
- Nine Ladies Dancing: $8,308.12. An increase of 10%.
- Ten Lords-A-Leaping: $13,980. An increase of 24.2%.
- Eleven Pipers Piping: $3,021.40. An increase of 2.6%
- Twelve Drummers Drumming: $3,266.93. An increase of 2.6%.
PNC said some of the highlights are:
- The cost of fertilizer is driving the spike in the cost of the pear tree. Fertilizer costs are up 28%.
- Higher wages and labor costs are fueling increases by performers by 14.5%.
- Gold prices are surging and are up 39% from last year.
Is Buying The 12 Days Online Cheaper?
Unfortunately, tech-savvy True Loves will not save by going the e-commerce route. Buying all 12 gifts virtually is “just” 8.9% higher this year, still an eye-popping $49,663.73. Free shipping on livestock purchases is still not an option.
Also, the federal minimum wage has not increased since July 2009; thus, the Eight Maids-a-Milking haven’t received a pay raise in more than a decade.
The annual PNC CPI tradition includes calculating the “True Cost of Christmas,” which is the total cost of items bestowed by a True Love who repeats all the song’s verses. Purchasing all 364 gifts will cost $197,071.09, which means that spreading cheer in 2022 costs 9.8% more than it did a year ago.
In which year could a shopper afford to be a scrooge?
The cheapest PNC Christmas Price Index in dollars occurred in 1995, when the cost of Christmas was just under $15,600.
When Are The 12 Days of Christmas?
The 12 days of Christmas is the span between the birth of Jesus and the visit of the Magi, also known as the twelve tides. It is a time to celebrate the nativity of Jesus. The 12 days of Christmas usually begin on the 25th day of December and runs through the 6th Day of January. The last day of the 12 days of Christmas is known as the Epiphany. It is also called the day of the Three Kings.