The PNC Christmas Price Index^® shows the current cost for one set of each of the gifts given in the song "The Twelve Days of Christmas."

It began 29 years ago when the chief economist at PNC Bank decided to figure out how much it would cost to buy each of the gifts. Little did he know, he was starting an economic tradition that continues to this day.

The PNC Christmas Price Index^® is similar to the Consumer Price Index, which measures changes in prices of goods and services like housing, food, clothing, transportation, and more that reflect the spending habits of the average American.

The goods and services in the PNC Christmas Price Index^® are far more whimsical. And most years, the price changes closely mirror those in the Consumer Price Index. It's a fun way to measure consumer spending and trends in the economy. So even if "pipers piping" or "geese a-laying" didn't make your gift list, you can still learn a lot by checking out how their prices have gone up and down over the years.