The cost of the fanciful mix of gifts described in the classic carol, The 12 Days of Christmas, has been tracked for over a quarter of a century. W ho knew how expensive the Seven-Swans-A-Singing would be?
The good news is that since last year, the Index is up only 1.2% so there are bargains to be had.
Not that there’s anything wrong with a basket of assorted swans, geese, French hens and turtle doves … I’d prefer a beef tenderloin myself … but who would have expected to spend almost $40,000 for the entire basket?
[pullquote]What I don’t like about office Christmas parties is looking for a job the next day. ~ Phyllis Diller[/pullquote]
PNC Wealth Management has carefully tracked these costs for more than 25 years. Each year, they expand the offerings with gifts, pictures and more.
So, What Did All This Goodness Cost in 2018?
You can see from the PNC Graph below that since 2004, the cost of the index has gone from around $24,000 to almost $40,000 this year, a 66% increase over that 14 year period. It’s gone up an average of $1,000/year in the last 10 years.
At just over $13,000, the most expensive item by far is Seven-Swans-A-Swimming. You might think people would be more expensive.
But, Ten Lords-A-Leaping will only set you back $10, 000 this year, a few grand more than Nine Ladies Dancing. Cheaper to just get Eight Maids-A-Milking for a measly $58. How many do you want?
What does all of this cost?
The index in 2018 for one of each item is $39,094. Oh, that’s all? Feeling better already ….
BTW, if you want to give all of the gifts featured in the song … repeats included … it’s 364 gifts for a total of a mere $170,609.
With the Fed talking about prime interest rate increases next year, it’s likely the cost of this package next year will also start climbing, so you better get ’em while they’re still so affordable.
Check your mailbox for YOUR basket.
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