PNC Christmas Price Index

For 36 years, we've calculated the prices of the twelve gifts from the classic carol "The Twelve Days of Christmas." The result is the PNC Christmas Price Index®, a unique and whimsical holiday tradition that makes learning about the economy fun.

2019 GIFT PRICES ABOUT THE INDEX FOR EDUCATORSFOR MEDIA ACTIVITY BOOK D.I.Y. CRAFTS


TOTAL CHRISTMAS PRICE INDEX (CPI)

$38,993.59
(0.2%)

The Geese and the Gold would have stretched True Love's budget if it weren't for those two darling doves who dropped in price. This year a modest increase of 0.2% makes the twelve gifts a feather's weight higher than 2018, but a 95% increase from the first Christmas Price Index in 1984.

On the First Day of Christmas, My True Love Gave to Me...

A PARTRIDGE IN A PEAR TREE

$210.17
(-4.5%)

The partridge stayed stable in 2019, but the
pear tree price was pruned from $199.95 to $189.99
creating an overall change for the set.

TWO TURTLE DOVES

$300.00
(-20.0%)

The most volatile gift in this year’s index, the price for this pair plummeted in 2019. It’s their first drop since 2004.

THREE FRENCH HENS

$181.50

Looking for a bargain buy? The hens remain the most
affordable birds in the index.

FOUR CALLING BIRDS

$599.96

Thanks to unlimited minutes, these four calling birds saw no change in price in 2019.

FIVE GOLD RINGS

$825.00
(10.0%)

The rings have rebounded. After a tough year in 2018, the price of the gold rings surged and surpassed the ground they lost last year.

SIX GEESE-A-LAYING

$420.00
(7.7%)

The geese continue their upward migration. After jumping 8.3% in price in 2018, the geese climbed another 7.7% this year.

SEVEN SWANS-A-SWIMMING

$13,125.00

These brilliant birds keep paddling at an expensive, yet consistent pace. Their price is unchanged for the fourth straight year.

EIGHT MAIDS-A-MILKING

$58.00

Tied to the federal minimum wage, the price for eight Maids-A-Milking hasn’t changed in a decade.

NINE LADIES DANCING

$7,552.84

Reflective of the cost of a dance company, the Nine Ladies Dancing two-stepped in place again this year. The seventh straight year with no price increase.

TEN LORDS-A-LEAPING

$10,000.00

These lords leapt to a price increase in 2018, but remained firmly in place this year, as ballet companies kept prices flat.

ELEVEN PIPERS PIPING

$2,748.87
(0.8%)

The price increase was modest for these musicians in 2019, but enough to end the year on a higher note than in 2018.

TWELVE DRUMMERS DRUMMING

$2,972.25
(0.8%)

Drumroll please… It’s another small increase for the drummers in 2019, based on a bump in the price of hiring musicians.

"CORE" INDEX (EXCLUDING SWANS)

$25,868.59
(0.3%)

This version of the CPI removes the most unpredictable gift from the index - the Swans-a-Swimming.

ABOUT THE INDEX

The PNC Christmas Price Index Through the Years

2018
$39,094.93
(+1.2%)
2017
$38,648.49
(+0.7%)
2016
$38,373.16
(+0.6%)
2015
$38,140.66
(+0.8%)
2014*
$37,826.12
(+1.0%)
2013
$37,469.74
(+6.6%)
2012
$35,160.79
(+5.3%)
2011
$33,380.29
(+4.6%)
2010
$31,916.99
(+8.8%)
2009
$29,329.29
(+0.3%)
2008
$29,248.81
(+11.0%)
2007
$26,342.01
(+2.6%)
2006
$25,664.51
(+2.6%)
2005
$25,004.59
(+7.1%)
2004
$23,340.54
(+2.1%)
2003
$22,862.72
(+18.4%)
2002
$19,311.31
(-10.7%)
2001
$21,616.45
(+3.0%)
2000
$20,989.28
(+1.7%)
1999
$20,629.13
(+4.0%)
1998
$19,828.86
(+5.1%)
1997
$18,870.23
(+1.3%)
1996
$18,629.46
(+4.0%)
1995
$17,915.25
(-26.3%)
1994
$24,316.41
(+0.8%)
1993
$24,132.91
(+1.0%)
1992
$23,890.17
(+0.8%)
1991
$23,701.86
(+1.4%)
1990
$23,366.09
(+4.0%)
1989
$22,462.87
(+4.9%)
1988
$21,419.24
(-0.4%)
1987
$21,505.36
(+5.5%)
1986
$20,392.29
(+0.7%)
1985
$20,248.90
(+0.9%)
1984
$20,069.58
(+1.5%)

*Revised: 2014 traditional price adjusted to better reflect open-market pricing.

The PNC Christmas Price Index Through the Years

ALL GIFTS

FOR EDUCATORS

Activities

These self-contained activities from The Stock Market Game give you everything you need to use the PNC Christmas Price Index® as an effective teaching tool. The Stock Market Game is a program of the SIFMA Foundation, a 501(c)3 nonprofit educational organization dedicated to fostering knowledge and understanding of the financial markets for individuals of all backgrounds.

Learn More: The Stock Market Game

CHRISTMAS PRICE INDEX HIDDEN PICTURE ACTIVITY BOOK

Take a Break from the Holiday Hustle & Bustle

The holidays are a special time to find the perfect gifts for the ones we treasure most. But finding the right gift can be a fun challenge –just like our holiday Hidden Picture activity.

Don’t worry! It won’t take you all twelve days of Christmas to find the sixteen gifts tucked away in the festive scene.

 

Download Hidden Picture Activity

CHRISTMAS PRICE INDEX D.I.Y. Crafts

Create Your Own Gift

It may be difficult to buy your true love all 12 gifts from the Christmas Price Index, but you could certainly make them! Our do it yourself craft tutorials provide a fun way to create that special gift for your loved ones this holiday season

D.I.Y. Craft Projects »