The cost of giving the gifts outlined in the song "Twelve Days of Christmas" has reached an all-time high this year. According to PNC Financial Services' Christmas Price Index, the total cost of the gifts is $46,729.86, which is a 2.7% increase from last year. However, this increase is much smaller compared to the 10.5% increase seen last year. The index also shows that the overall cost of buying all the items repeated in the song has surpassed $200,000 for the first time in its 40-year history. The index highlights various economic and pricing themes, including rising wages and tight labor markets. The prices of some gifts, such as live performances, have increased due to ongoing services inflation and higher wages for skilled labor. However, the prices of other gifts have remained unchanged. The cost of the gifts is influenced by factors such as housing costs and rising business expenses. The index also suggests that the United States may experience a period of sluggish economic growth or a mild recession in the future. Overall, consumer discretionary spending may be affected during challenging times.
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