Here's the real cost of the '12 Days of Christmas

Your true love will needto raise their budget for yourChristmas gifts this year.PNC released its annual Christmas Price Index on Friday, and it showed that prices for items from the 12 Days of Christmas carol rose by 0.7% from last year.That's slightly up from the 0.6% pacein 2015.Everything, from the partridges on day one to drummers on day 12, cost $156,507.88. The "core" index, excluding volatile swan prices, rose 1.1% to about $21,000.For over 30 years, PNC has published this index based on prices of the twelve gifts in the famous carol.They do it partly to entertain their clients, and you, as things slow down over the holidays.They don't expect you to take this too seriously.But the index is based on pricesof the real items. For example, prices for geeseare sourced from a waterfowl farm, and PNC asks a nursery in New Jersey for the cost of pear trees. PNC found that a scarcity of Turtle Doves mainly drove the cost of Christmas higher.Wage growth across the economy made pipers and drummers more expensive. And, it's been a wild year for gold, but the price of gold rings held steady. Here's PNC's full breakdown of the 12 days. You can check out a fun infographic here.Thereal economic data in fact show that there are inflation pressures within and outside the US. Commodity prices are moving back upafter tumbling during the past few years; earlier this week, a deal by the Organization of Petroleum Exporting Countries to limit oil production lifted prices back above $50 per barrel.Also, the US is getting some wage inflation. Average hourly earnings rose in October at the fastest annualized rate since the recession. Although the November reportreleased Friday showed a pullback, the trend hascrept higher this year.And of course, the 12 days of Christmas aremore expensive this year.SEE ALSO:The unofficial Goldman Sachs gift guide for 2016Join the conversation about this storyNOW WATCH: Watch the 2016 John Lewis Christmas advert
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