17 Mar 2017
The Office for National Statistics (ONS) has published a list of goods that have been added to its inflation basket for the first time.
Non-dairy milk, gin, jigsaw puzzles for adults and children’s scooters are amongst the items that have been included in the basket of goods used to measure the UK’s inflation rate.
However, following the rise in popularity of smartphones, basic mobile phone handsets have been removed from the basket, along with children’s swing sets and fees for stopping cheques.
The ONS reviews the inflation basket annually in order to accurately reflect the lifestyle of the average consumer in Britain and changes in the market. The basket is now thought to contain around 700 goods and services.
The price movements of these goods and services are measured in 20,000 outlets within the UK so that the appropriate rate of inflation can be calculated.
Commenting on the process, Phil Gooding, Senior Statistician at the ONS, said: ‘The annual basket review enables us to keep up to date with all the latest trends, ensuring our inflation measures reflect the changing costs experienced by consumers.’