The festive holiday ditty “The Twelve Days of Christmas” is often used as a fun way to count down the days until the big day arrives. But did you know each song’s gift also has a monetary value?
According to the PNC Christmas Price Index, a set of all the gifts from “The Twelve Days of Christmas” costs US$23,439. In 2023, up from US$21,465.56 in 2009.
The 2023 increase is larger than the 1.9% increase between 2008 and 2009 but is still much lower than the 6.0% and 6.3% increases in 2007 and 2006 respectively.
It costs $23,439.20 to purchase all of the items listed in “The Twelve Days of Christmas” song this year (2023)
You might not have noticed, but the song’s price has fluctuated. There’s no way to predict what will happen next.
If you’re willing to buy all twelve days of Christmas every year and never repeat an item twice, you could save money over time by buying them separately instead of going for the whole kit at once.
The Concept of the Twelve Days of Christmas; How it all Started
The Twelve Days of Christmas is a Christmas carol that enumerates the gifts the Magi gave to the Christ Child in the manger. It has been a tradition to calculate the cost of these items since what year?
James U. Blanchard first published the song in 1859 as part of his book Carols, Hymns, and Songs. The carol is well known in the English-speaking world, with an alternate version appearing in Roud Folk Song Index 2006 under number 1153(b)
According to Christian tradition, the Magi, also known as the Three Wise Men or Three Kings, was a group of distinguished foreigners who visited Jesus after his birth, bearing gifts of gold, frankincense, and myrrh.
They are regular figures in traditional accounts of Christ’s nativity; when they arrive at Bethlehem with their gifts for him, they are greeted by Herod Antipas (who orders Jesus’ death), King Herod (who imprisons them), and Joseph & Mary (who flee into Egypt).
Why Is It Done?
It has been a tradition to calculate the cost of these items since 1983 PNC Wealth Management company. They release this information as the “Christmas Price Index.”
The Christmas Price Index is a tongue-in-cheek economic indicator created by PNC Wealth Management. It tracks the cost of purchasing the gifts given by the Three Wise Men in Jesus’ nativity story, using current prices for gold, frankincense, and myrrh. The index serves as a fun way to measure inflation during the holiday season and understand how costs have changed over time.
The index is released annually in early December, just in time for holiday shopping. They are 12 items listed in the songs, and the prices of each are summed up every year by the PNC.
The Christmas Price Index is a fun way to track inflation during the holiday season and understand how costs have changed over time. The index can help you budget for your holiday shopping, and it’s a great conversation starter when discussing economics with friends and family.
How much are the Twelve Days of Christmas 2021?
The costs associated with the 12 Days of Christmas have been fairly stable over the past five years, but they are expected to rise as inflation picks up.
Although the Twelve days of Christmas cost around $41,205, a 6% rise since 2019, this might result from the COVID-19 pandemic.
Here’s a look at how much they cost in 2023 and beyond:
The 12 Days of Christmas costs are expected to rise yearly as inflation picks up. In 2023, the cost is estimated to be around $43,000.
However, with the price rising due to inflation over the years, it is almost certain to see more rice in 2023 and 2024.
List Of The Twelve Days Of Christmas Items And Prices 2021
- Partridge in a Pear Tree- $222. 68
- Turtle Doves- $450
- French Hens-$255
- Calling Birds-$599.96
- Gold Rings-$895
- Ladies Dancing-$7,552
- Lords-a-Leaping $11, 260
- Pipers Piping $2,943.93
- Drummers Drumming $3,183.17
The sum of these prices gives you $41 205, according to the PNC Christmas Price index.
This matters because it helps us understand how inflation affects the economy and how prices change over time. It also shows us what people are willing to spend money on during the holidays.
Reasons Why The Twelve Days Of Christmas Has Been Hit By Inflation
The 12 Days of Christmas have been hit by inflation.
The price of the items that make up this traditional English carol has increased in price over the last few years due to a number of factors. These include:
- The economic downturn that began in 2008 caused many companies to cut costs (including Christmas bonuses) and be less generous with their employees regarding holiday pay; it was harder for people to take extra time off work during Christmastime.
- Rising oil prices caused by the Arab Spring uprisings drove the cost of items such as pine trees and gold rings (traditionally used on Christmas trees).
Many of the song’s items are unavailable in most areas and may be hard to find. Also, there is no definitive version of “The 12 Days of Christmas”.
British composer Frederic Austin wrote the original version in 1909; however, it was not published until 1912, when English composer Thomas Oliphant added music. Several versions have been printed since then with slight variations and differences.
Today, the song is used to track inflation just before Christmas shopping.
One organization, the PNC Wealth Management company, has been tracking the cost of the items in “The 12 Days of Christmas” since 1983 to calculate what they call the “Christmas Price Index”.
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