What happened Hummus, alcohol-free beer, dashboard cameras and pet grooming have all been added to the Office for National Statistics’ (ONS) metaphorical shopping basket, which is used to calculate inflation.
Twenty-seven indicators have been added, while 19 objects, including wrapping paper, have been removed, making up a total of 760 items.
Who said what The revisions will give Bank of England policymakers “further food for thought before they set interest rates every eight weeks”, said City A.M.
These latest additions reflect “broader shifts in consumer behaviour” and the fact that shoppers are “increasingly embracing healthier, protein-focused diets”, said The Times. The history of the ONS basket offers a “fascinating insight into our changing tastes, trends and lifestyles”, said the BBC. When the first list was created in 1947, wild rabbit was one of the items included, while tea bags only replaced loose leaf tea in the 1980s.
What next? The ONS will also adopt a “new method of data collection”, according to the BBC. Instead of manually gathering price information, the bureau will now collect millions of prices automatically using “supermarket scanner data”. |