Cornish wrote this tune with American songwriters Dr. Luke and Claude Kelly. The trio also penned together her first ever hit single, Miley Cyrus's "Party in the U.S.A.
." Jessie recalled to The Sun
: "I co-wrote Price Tag with Claude Kelly (aka moon head) and Dr Luke (aka Coconut Man) (and I'm Pea) about 4 months after we wrote 'Party In The U.S.A.' for Miley Cyrus. It was inspired by my life at the time, feeling like money ruled everything and everyone was so serious in their shades."