The cost of the gifts in the classic holiday song rose just 0.6% in the past year
Birds will call, ladies will dance and lords will leap because the cost of buying all the gifts in the classic holiday song The 12 Days of Christmas inched just 0.6% higher this year, less than the 2.2% rise in the Consumer Price Index.
The estimated price tag for the 12 gifts totals $34,558.65, compared with $34,363.49 last year, PNC Financial Services Group reported in its 34th annual Christmas price index.
Costs for nine of the gifts held steady from 2016. Three others — the partridge in a pear tree, the five gold rings, and the 10 lords-a-leaping — saw annual cost increases that ranged from 2% to 10%.
The U.S. economy is growing at a sustainable pace, with low-interest rates and higher consumer confidence. Although that slow-steady growth pattern could mean higher prices, Thomas Melcher, PNC's chief investment officer, said "companies appear hesitant to pass through price increases to the consumer."
More: Buying 'The 12 days of Christmas' gifts is a 2016 bargain
Here's the cost breakdown for all you true loves shopping for gifts:
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