We're still weeks from the 12 days of Christmas, but it doesn't hurt to take a little peek at what's under the tree.

We've all heard it..."On the first day of Christmas, my true love gave to me..."

At shopping malls. In the car. On television. And we'll likely continue to hear it. The classic song about the 12 days of Christmas and the rather unorthodox-for-modern-times items that someone's significant other decided to gift them. But have you every stepped back and thought about buying all of those things would actually entail? Well, PNC Bank has...and they've wrapped it up in a nice holiday-themed interactive for our enjoyment.

Questions:

• How does the increase in the total cost of the gifts in the "12 Days of Christmas" song from 2022 to 2023 (2.5%) compare to the general inflation rate in the U.S. (3.2%)? What might this indicate about the economy?
• Why do you think the price of services (like the Nine Ladies Dancing or the Eleven Pipers Piping) tends to increase at a different rate than physical goods (like the Five Gold Rings)?
• The Turtle Doves saw a 25% increase in price due to their rarity. How does supply and demand affect the pricing of goods and services in this index and in the broader economy?
• The Eight Maids-A-Milking reflect the Federal Minimum Wage, which hasn’t changed. Discuss how stagnant wages can affect both workers and the overall economy.
• The Partridge in a Pear Tree saw a price increase primarily due to rising housing costs. How does the cost of living, particularly housing, influence consumer spending?
• The Seven Swans-A-Swimming are noted as the most volatile gift in terms of pricing. How can fluctuations in prices impact budgeting for individuals and businesses?
• Considering the PNC Christmas Price Index has been tracked for over 40 years, how can historical economic data help us understand current and future economic trends?
• How does the PNC Christmas Price Index, though playful, reflect consumer spending habits? Why is it important to understand these trends?

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Looking for more price indexes? Check out ECON: What is the Consumer Price Index (CPI)?

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Looking for more interactive resources? Be sure to check out the NGPF Interactive Library. 

About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.