DALLAS—Inflation is so low that even the price on Lords-a-Leaping has not really leaped in 2014. But geese are another matter.
The annual estimate of what all the items mentioned in holiday classic “The Twelve Days of Christmas” is up just $280 in 2014 over 2013, the smallest year-over-year increase since 2002 when the index actually declined -7.2%. Compiled by PNC Bank, the estimated cost of all 12 days (which actually totals 364 gifts), is up 1.4% in 2014 to $116,273, according to PNC Bank. In 2013 that figure was up 6.9%.
According to PNC Bank, eight of the 12 items remained virtually the same cost as last year, but the six geese-a-laying rose a whopping 71.4%. “Excluding the swans-a-swimming (a proven volatile component), the core PNC CPI increased +1.4%, not too far from the government’s core consumer inflation rate of +1.3%,” the bank said.
Here’s a specific breakdown by day:
ENTERTAINMENT: PNC said true loves can splurge this year on entertainment as only lords-a-leaping saw price increases. Ladies dancing, pipers piping and drummers drumming stayed on par with their cost in 2013.
FOOD AND HOUSING: PNC noted housing and fresh fruit prices have been on the rise lately, so the pear tree saw a 2% increase, driving its cost with a partridge up +3.8% from last year.
UNSKILLED LABOR: As the only unskilled laborers in the index, PNC said the price for eight maids-a-milking is represented by the minimum wage. With the Federal minimum wage flat at $7.25 per hour, hiring the maids this year will not increase labor costs.