Santa on a PC(Toby Melville - PA Archive)

Each year, American wealth management company PNC tracks the cost of the items listed in the festive carol The 12 Days of Christmas. They use the figure they reach, which they've dubbed the 'Christmas Price Index' (or CPI), to track the state of the economy compared to the previous year.

This year, if you wanted to buy one of each of the items listed in the carol it would cost you £15,083.32 compared to last year's total of £13,140. That's a hefty increase of £1,943.32.

To buy all of the items as per the lines of the song (two turtle doves, three French hens, four calling birds, etc., repeated each time a new gift is added) would cost £62,301.39, an equally sizeable increase on the £53,455 it cost in 2009. PNC calls this figure "The True Cost of Christmas".

So which items have gone up in price over the past year and which have gone down? Are partridges and pear trees more expensive or is this year's increase all down to those five gold rings? Read on to find out.

Please note that this is a US index and dollar to pound conversion rate was correct at time of publication