Christmas Price Index chose the items in the popular Christmas carol "The Twelve Days of Christmas" as its market basket: a partridge in a pear tree, two turtle doves, three French hens, four calling birds, five gold(en) rings, six geese, seven swans, eight maids, nine dancing ladies, ten leaping lords, eleven pipers, and twelve drummers. According to tradition, the purchasing of the items begins on December 26 and ends on January 6. PNC compiles both a "Christmas Price Index" and "The True Cost of Christmas." The "Christmas Price Index" is calculated by adding the cost of the items in the song. The "True
The Twelve Days of Christmas (song) associated with it is derived from a 1909 arrangement of a traditional folk melody by English composer Frederic Austin, who first introduced the familiar prolongation of the verse "five gold rings" (now often "five golden rings"). "The Twelve Days of Christmas" is a cumulative song, meaning that each verse is built on top of the previous verses. There are twelve verses, each describing a gift given by "my true love" on one of the twelve days of Christmas. There are many variations in the lyrics. The lyrics given here are from Frederic Austin's 1909 publication that first established the current