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'Cost of Christmas' rises to more than $27,000

Ladies dancing, pipers piping -- the gifts add up in one bank's annual inflation index.

By businessed Dec 2, 2013 2:36PM
This post comes from Steven Perlberg at Business Insider.

Business Insider on MSN MoneyA partridge in a pear tree? That'll be $199.99.

Santa Claus with cash © Tetra Images/JupiterimagesAt least according to PNC. The bank is out with its annual Christmas Price Index ("CPI"), which prices all of the gifts from the classic tune "The 12 Days of Christmas" compared with Yuletides of the past.

PNC's CPI joins two storied American traditions — holiday shopping and inflation grousing. All told, the gifts from the song total $27,393.17, $1,192 more than last year and 116% higher than 1984, when the bank launched the index.

Although the "true cost of Christmas" — the total cost of the items when you repeat all of the song's verses — is $114,651.18.

“While there are exceptions in given years, what’s most interesting about the index’s history is that since the beginning, year-over-year increases have averaged 2.9 percent, which is exactly the same number as the U.S. inflation index,” PNC Wealth Management's Jim Dunigan said in a press release.

Check out the graphic:

Source: PNC
More from Business Insider:
Dec 2, 2013 3:10PM
Who knew all these years I should have been investing in French hens?
Dec 2, 2013 5:37PM
Market is flat on those swimming swans.  I knew I should have gotten out of that back in '86
Dec 2, 2013 4:50PM
Dec 2, 2013 6:41PM
Well first of all did they factor in all of the total items? For example ther are really 12 Partriges in 12 pear trees in the song and 40 gold rings. And just where can you buy 11 pipers piping?
Dec 2, 2013 5:30PM
I earned a BS degree in 1970 from UC San Diego and a good starting salary for new grads was around $900 a month w/ the city or county of San Diego.  Admin. Trainee, etc.  Full med/dental benefits.  In late '64 after 30 mos. in W. Germany in the army I wanted to become a warrant officer chopper pilot...wage:  $222 a month=2Lt.  I washed out at 7 months.  The only billionaires I recall in the late 60s were Howard R. Hughes and Jean Paul Getty.  There must have been several more somewhere. 
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