It might be news if PNC Bank's annual "Twelve Days of Christmas" Price Index actually dropped. But it hasn't since 2002 (download history here), and didn't this year, either. The Pittsburgh-based company's PNC Wealth Management arm has calculated this year's cost at $19,507 for all those consumer goods and services: the partridge, pear tree, hens, drummers, ladies, golden rings, etc., 364 items in total. That's 3.1 percent over last year's total, which is less than the 4 percent rise in the Consumer Price Index.
PNC's James Dunigan attributes its Christmas-index increase this year in part to the weaker dollar and, to a lesser extent, the first federal minimum wage increase in 10 years. Those eight maids-a-milking get paid by the hour, after all. The biggest price increase was for the five gold rings, thanks to the precious-metal rally that has raised their price 21.5 percent over last year to $395. Too bad platinum doesn't rhyme so easily, since it's becoming a good buy. Still, PNC says the gold-ring total is still far off its 1989 high of $750.
On the other hand, the $4,759 price for nine ladies dancing -- based on estimates from Philadanco in Philadelphia -- is unchanged. Maybe Philly really does have more fun.
