Even in bad economy, the cost of “True Love” modestly increased in 2009! 
This is an interesting concept based on the old Christmas carol – ‘The Twelve Days of Christmas’.
However, before writing anything about the ‘cost of true love’ this Christmas season, a word (or a few) about the ‘The Twelve Days of Christmas’ carol:
For those who have not heard of it, or need to fresh their memory, the carol is a cumulative song. The first day starts with one gift to the true love, repeating the same gift next day and adding one more every day. So, on the 12th day, the true love receives 12 gifts. How cool!!
The first verse is:
On the first day of Christmas my true love gave to me
a partridge in a pear tree
The second verse adds another gift:
On the second day of Christmas my true love gave to me
Two turtle doves
and a partridge in a pear tree
The third verse adds up to 3 gifts on 3rd day:
On the third day of Christmas my true love gave to me
Three French hens
two turtle doves
and a partridge in a pear tree
And so on, the last verse of the carol for 12th day obviously is:
On the twelfth day of Christmas my true love gave to me
Twelve drummers drumming
eleven pipers piping
ten lords a’ leaping
nine ladies dancing
eight maids a’ milking
seven swans a’ swimming
six geese a’ laying
five gold rings
four calling birds
three French hens
two turtle doves
and a partridge in a pear tree
Since 1986 every year, PNC Wealth Management has entertained the banking world and the rest of us by calculating the cost of the items in this song, if purchased at current prices. According to the bank, the cost of 12 sets of gifts for 2009 is $21,465.56.
Not to take away the poetic and romantic gesture of the carol, the bankers use this calculation as one more gauge of the overall US economy and price pattern, and call it the ‘PNC Christmas Price Index’. In 2009 the PNC Christmas Price Index increased by a modest 1.8 percent compared to last year.
If the repeated gifts are added over the 12 days, the total is “True Cost of Christmas”.
To show true love this Christmas holiday season, the ‘True Love’ will cost $87,402.81, with very generously repeated gifts – 364 in total – over 12 days! This cost is 0.9% higher compared to 2008.
The sharp rise in gold prices proved to be the main contributor to the price jump for the ‘Five Gold Rings’. The cost of most performers in the index — the Drummers Drumming, Pipers Piping and Lords-a-Leaping — did not increase from 2008, reflecting the soft labor market conditions.
There you have it. If you were wondering how much the true love would cost this holiday season, the answer is $87,402.81. The ‘true love’ is costing more this year, even in poor economy.
From the collection of the items in this carol – a pear tree, calling birds, hens, geese, milking ladies, drummers…. – it seems like the original lyrics writer may very well be some desi farmer from India who loved music and dance.
For more details on interesting facts about this index, including the cost of a pear tree, calling birds, hens, geese, milking ladies….you can visit the PNC Christmas price index site.
And here is the link to carol itself on YouTube – 12 Days of Christmas. Enjoy .
