The cost of Christmas

Posted on Friday 22 December, 2006
Filed Under Uncategorized

 

The cost of Christmas will be $18,820 in 2006, up 3.1% on last year, according to PNC Wealth Management. Yes, way beyond the means of most Farepak punters.

The Philadelphia-based asset manager bases the calculation on the basked of goods covered in that well-known carol, ‘The Twelve Days of Christmas’.

So that’s 12 partridges in 12 pear trees, as you need one of each for 12 separate days. Then you add 22 calling doves, or two a day for 11 days. And so on.

There’s good news and there’s bad. The price of swans a-swimming has fallen 43% since 1984, when the index was first calculated. But the prices of ladies dancing and lords a-leaping is up by more than 300% over the last 22 years. Indeed, lords have secured a 4% increase since this time in 2005.

But here’s the kicker, according to today’s FT [subscription required]:

‘Maids a-milking get the minimum wage, so the index may fail to capture the downward pressure on costs from illegal migrant workers.’

Season’s greetings, readers.

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