Since 1984, PNC Wealth Management has calculated the cost of Christmas through its “Christmas  Price Index,” a play on the Bureau of Labor’s Consumer Price Index. The index calculates how much it would actually cost to buy everything in the famous “Twelve Days of Christmas” song, from 12 drummers drumming to a partridge in a pear tree! Released for the year 2007, it marks a 23-year high, up 3.1 percent from 2006. PNC reports that its Christmas index reflects general consumer trends, accounting for several broad economic factors.

• Twelve Drummers Drumming: $2,397 Up 4.2% from 2006. PNC based the cost of this category on numbers provided by the Pennsylvania Musician’s Union. The increase is due to increased performer’scompensation.  The cost of “Twelve Drummers Drumming” is thus $2,397.
• Eleven Pipers Piping: $2,213. Increased compensation for performers — according to Pennsylvania’s Musician’s Union — also drove up the price of “Eleven Pipers Piping” by 4.2% to $2,213.
• Ten Lords-A-Leaping: $4,285. The terminology is slightly antiquated, but the phrase simply refers to a male dancing troupe, consisting, of course, of ten dancers. PNC has put the 2007 cost at $4,285, up 3.0 percent from a year ago, according to the Pennsylvania Ballet.
• Nine Ladies Dancing: $4,759. PNC again went to the Pennsylvania Ballet for this category, which put a price tag of $4,759 on this expensive holiday gift. “Nine Ladies Dancing” is the only performance-oriented gift on the list that has not changed in price since 2006.
• Eight Maids-A-Milking: $46.80. The only unskilled laborers in the Christmas Price Index, the Maids-a-Milking have been deemed minimum-wage workers. For one hour, they will cost you $46.80. Though the maids got their first raise — so to speak — since 1997, it is a whopping 13.6 percent more than 2007.
• Seven Swans-A-Swimming: $4,200. Thanks to a steady supply and demand for our feathered friends, the cost of seven swans has remained unchanged since 2006. PNC’s calculations are courtesy of the National Aviary in Pittsburgh, which puts the price at $4,200.
• Six Geese-a-Laying: $360. Planning a festive holiday dinner around a Christmas goose? How about six? Up 20% from last year, reflecting higher food prices, this component of the song goes for $360, according to PNC.
• Five Golden Rings: $395. Perhaps the most memorable lyrics in the song, the rings surprisingly enough are not the most expensive item on this Christmas list. With the price of gold rising, however, the value of the rings is up 20% from the 2006 to $395. This is nowhere near the all-time high on the 23 year index… in 1989 PNC listed Five Golden Rings at $750
• Four Calling Birds: $599. PNC defined these birds as canaries, and according to the national pet chain, PetCo, the price comes out to $599, up 25% from last year. In 2006 you could have bought five calling birds for that price!
• Three French Hens: $45. With the poultry market remaining steady over the past year, the price of French hens remain at their 2006 level. Based on numbers from the Cincinnati Zoo “Three French Hens” will cost you about $45 this year, according to PNC.
• Two Turtle Doves: $40. Turtle doves are symbols for compassionate love and friendship. The market has been quite steady for this symbolic bird, listing no change from the 2006 price of $40 for two turtle doves.
• And A Partridge ($15) in a Pear Tree ($165). A more complex calculation, for the first day of Christmas, both a partridge and a pear tree are necessary. PNC found that a partridge goes for about $15 but the pricier item, the pear tree, costs $165, up 15.40 percent from last year, according to PNC’s source, Waterloo Gardens.