Twelve days of Xmas cost $123,000

Reuters

PRICE OF LOVE: Nine ladies dancing will set you back US$5,473.

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That's the grand total for the single partridge in a pear tree to the 12 drummers drumming, purchased repeatedly as the song suggests, according to the annual "Christmas Price Index" compiled by PNC Wealth Management.

The price is up a mere $1107, or less than 1 percent from last year.

The cost of buying each item just once is increasing this year to $29,960, up 1.8 percent from last year.

Jim Dunigan, managing executive of investment for PNC Wealth Management, which has been calculating the cost of Christmas since 1984, attributed the modest increase to lower energy costs and fewer wage increases.

It's the smallest increase since 2002, when the cost actually decreased, according to PNC.

The main driver behind the higher cost is that the price of gold has increased 43 percent, bringing the five gold rings up $209 to $698.

Although wage increases were modest, nine ladies dancing, at $7637 per performance, is the costliest item, surpassing the that of any of the material goods.

And for those who would shop online, a word of caution.

"In general, internet prices are higher than their non-internet counterparts because of shipping costs for birds and the convenience factor of shopping online," Dunigan said.

PNC Financial Services Group Inc checks jewellery stores, dance companies, pet stores and other sources to compile the list. While it is done humorously, PNC said its index mirrors real economic trends.

Besides putting out the list for fun, PNC makes it available to teachers across the country to teach economic trends.

While it's unlikely anyone would buy the items, Dunigan said one item is likely to please.

"We don't necessarily suggest picking just one, but it's hard to believe that gold rings wouldn't lead the list on a year-to-year basis," Dunigan said.

- AP