The Price of True Love: The Twelve Days of Christmas' Costs in 2024

December is a season synonymous with giving. Whether it’s gifts for loved ones, volunteering time, or donating to those in need, generosity fills the air. In fact, nearly one-third of annual giving happens during this month.

But alongside the holiday spirit, another seasonal staple is inescapable: holiday music. One carol, The Twelve Days of Christmas, has endured as a festive favorite. If you’re like me, you’ve heard it countless times, and while the melody is memorable, the details of gifts from “six geese a-laying” onward can start to blur.

This year, our team took a whimsical approach to tracking inflation by revisiting the PNC Christmas Price Index®. This playful economic measure tracks the cost of the gifts mentioned in the carol and offers an amusing yet insightful way to explore broader financial trends. As it turns out, true love in 2024 comes with a price tag: $49,263.47—a 5.3% increase from last year.

Here are the prices for each of the 12 items:

• 1 Partridge in a Pear Tree: $370
• 2 Turtle Doves: $750
• 3 French Hens: $346
• 4 Calling Birds: $600
• 5 Gold Rings: $1,245
• 6 Geese-a-Laying: $900
• 7 Swans-a-Swimming: $13,125
• 8 Maids-a-Milking: $58
• 9 Ladies Dancing: $8,557
• 10 Lords-a-Leaping: $15,580
• 11 Pipers Piping: $3,715
• 12 Drummers Drumming: $4,017  

Five Golden Rings remain a timeless choice. While their price held steady, their symbolic value shines brighter than ever.  Seven Swans-a-Swimming didn’t increase in value but are still the second-most expensive gift at $13,125—a true showstopper for any gift-giver. The Partridge in a Pear Tree saw the sharpest price hike, up 16% from last year, driven by the rising cost of pear trees. Interestingly, the gifts in this carol also mirror broader economic shifts. The rise in prices for entertainment-related items—like drummers, pipers, and lords—reflects wage growth in skilled services, while physical goods such as golden rings remained flat.

Since its inception in 1984, the PNC Christmas Price Index® has grown alongside inflation, offering both a cheerful lens on the holidays and a subtle commentary on the economy. Back then, the total cost of these gifts was just over $20,000. Today’s $49,263.47 underscores how much has changed while still reminding us of the lightheartedness of the season.

As you gather with loved ones this holiday season, we hope this provides a bit of festive conversation for your table. Whether it’s about leaping lords, swimming swans, or broader financial trends, we’re here to discuss whatever is on your mind.

Wishing you a Merry Christmas, a joyous holiday season, and a New Year filled with prosperity and peace.