I bet you're all enjoying the heightened economic activity of the season, but don't you wish Christmas had more graphs?
It's that time of year to consult the Christmas Price Index! You may have seen this, since 1984 the PNC Financial Services has been measuring the cost of buying each gift in the 12 Days of Christmas carol. More specifically,
This year, the total cost is $87,403 up 1.83% since last year. The most expensive item is the services of the nine dancing ladies at $5,473 per performance, closely followed by the seven swans at $5,250 - expensive because of a volatile supply and demand.
If you were thinking of ordering these online, you'd pay an additional $10,000 for shipping costs for the birds.
While interesting and amusing, it also reflects the growth of the service sector in the US market, as the price of labour has increased but the price of goods has largely fallen (with the exception of the gold rings).
It's that time of year to consult the Christmas Price Index! You may have seen this, since 1984 the PNC Financial Services has been measuring the cost of buying each gift in the 12 Days of Christmas carol. More specifically,
- The one pear tree comes from a local Philadelphia nursery
- One partridge, two turtle dove, and three French hen prices are determined by the Cincinnati Zoo and Botanical Garden
- The price of four canaries at Petco is used for the calling bird
- Gordon Jewelers sets the cost of the FIVE GOLD RINGS
- The six geese and seven swans prices are set by the National Aviary in Pittsburgh
- The eight maids are assumed to be unskilled laborers earning the Federal Minimum Wage
- A Philadelphia dance company provides estimates for the salary of nine ladies dancing
- The Philadelphia Ballet sets the salary for the ten leaping lords
- The going-rate for the eleven pipers and twelve drummers is that of a Pennsylvania musicians' union
This year, the total cost is $87,403 up 1.83% since last year. The most expensive item is the services of the nine dancing ladies at $5,473 per performance, closely followed by the seven swans at $5,250 - expensive because of a volatile supply and demand.
If you were thinking of ordering these online, you'd pay an additional $10,000 for shipping costs for the birds.
While interesting and amusing, it also reflects the growth of the service sector in the US market, as the price of labour has increased but the price of goods has largely fallen (with the exception of the gold rings).
"The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. " - Bertrand Russell
The Triumph of Stupidity in Mortals and Others 1931-1935
The Triumph of Stupidity in Mortals and Others 1931-1935