Friday Follies...

The last Friday before Christmas, and keeping in the spirit of the holiday, we're not going to be talking politics, global warming or the Spears family.

We're going to keep it light today, and send all you last minute shoppers off with a smile (hopefully).

In an age of cost-consciousness and forced frugality, it's only fair that we revisit that song: "The 12 days of Christmas", and find out HOW MUCH everything would come to at the bottom line, adjusting for inflation naturally.

According to the 23rd annual survey, the cost of “The Twelve Days of Christmas” is $19,507 (for one item each) in 2007, a 3.1 percent increase over last year. The rise in gift prices mirrored the U.S. government’s Consumer Price Index – a widely used measure of inflation calculated by the Bureau of Labor Statistics.

The Consumer Price Index is up 3.5 percent so far this year.

It would cost $78,100 to buy ALL 364 items, from a single partridge in a pear tree to the 12 drummers drumming, repeatedly on each day as the song suggests, according to the annual PNC Christmas Price Index compiled by PNC Wealth Management. The cost is up 4 percent from $75,122 last year. And that still be affordable for our state employees, who will be getting a 4.5 percent raise from the governor next year.

As was stated above, buying each item in the song just once would cost $19,507, up 3.1 percent from last year’s $18,921. Shopping online would be far costlier, with the total for the 364 items costing $128,886, up 2.5 percent from last year’s $125,767. You would spend $31,249 online for each item JUST ONCE this year.

The nine ladies dancing, costing an estimated $4,759, is the most pricey item on the list. "After years of stagnation, wages for skilled workers, including the song's dancers and musicians, have increased as the labor market has tightened," said Jeff Kleintop, chief investment strategist for PNC Wealth Management.

I figure it's the TYPE of dancing those nine ladies are DOING that has SOMETHING to do with the price (anyone got some "ones"?) as well. Skilled workers indeed!

The only labor group to not increase this year is the eight maids-a-milking, who still get minimum wage. It only costs $41.20 to hire the maids. And that's a darn bargain!

Offsetting the increase in labor is the price of 5 gold rings, which came in at $325, no increase from the year prior. "A slowing residential real estate market is making people feel less wealthy this year and is dulling demand for luxury items, like gold rings," said Kleintop. "Investors have been buying gold as an inflation hedge and prices per ounce remain much higher than last year. This may put pressure on profit margins at retail jewelers, who have not been able to pass along the increased cost to consumers."

Not everything is more costly. The price of a partridge ($15), two turtle doves ($40) and three French hens ($40) remained the same, as did seven swans a-swimming, at $4,200. The price of the aviary is due to a stagnant market, coupled with static fuel costs for shipping the birds.

So maybe tossing caution to the wind, and buying that MERCEDES isn't such a bad deal after all...but the "romantic value" will most assuredly wind up in the crapper (or the garage), right?

Do Have a Safe Weekend!

(3 shopping days until Christmas...hurry up, people!)