We've all heard it: "On the first day of Christmas, my true love gave to me..." But, how much would it actually cost if someone were to give their true love all of those gifts? 

[Post updated on December 3, 2024] 

PNC’s famous Christmas Price Index tallies up the numbers and reveals how much it would cost to gift that partridge in a pear tree, five golden rings…and more! It’s a whimsical way to understand how the broader American economy is doing each year and to bring personal finance and economic concepts to your classroom! 

Questions:

• The Partridge in a Pear Tree saw the biggest percentage jump in price due to rising housing costs. How does the cost of living, particularly housing, influence consumer spending?
• Why might the Four Calling Birds be the easiest item to budget for year over year? 
• The Seven Swans-A-Swimming are noted as the most volatile gift in terms of pricing. How can fluctuations in prices impact budgeting for individuals and businesses?
• The Eight Maids-A-Milking reflect the Federal Minimum Wage, which hasn’t changed. Discuss how stagnant wages can affect both workers and the overall economy.
• Why do you think the price of services (like the Nine Ladies Dancing or the Eleven Pipers Piping) tends to increase at a different rate than physical goods (like the Five Gold Rings)?
• How does the increase in the total cost of the gifts in the "12 Days of Christmas" song from 2023 to 2024 (3.6%) compare to the general inflation rate in the U.S. (2.6%)*? What might this indicate about the economy?
• Considering the PNC Christmas Price Index has been tracked for over 40 years, how can historical economic data help us understand current and future economic trends?
• How does the PNC Christmas Price Index, though playful, reflect consumer spending habits? Why is it important to understand these trends?

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Looking for more price indexes? Check out ECON: What is the Consumer Price Index (CPI)?

Looking for more interactive resources? Be sure to check out the NGPF Blog. 

*https://www.statista.com/statistics/273418/unadjusted-monthly-inflation-rate-in-the-us/

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.