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Inflation

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    Inflation

    It always amuses me what crap they add and remove from the basket of goods.


    https://www.theguardian.com/business...covid-pandemic

    Hand sanitiser, smart watches and hand weights for home exercise have been added to the basket of goods and services used to calculate the cost of living, in a sign of how spending habits have changed in Britain during a year of lockdown.

    In a snapshot of a country learning to live with Covid-19, the Office for National Statistics said there had been a surge in spending on products designed to keep people safe and fit.

    The ONS said turning bedrooms into workspaces had also had an impact on its choice of items. Reflecting the fact that suits have been left in the wardrobe as people have used their home as the office, the new basket includes men’s tracksuit bottoms and women’s sweatshirts.

    The closure of gyms had forced people to exercise at home, leading to the inclusion of dumbbells and smart watches (which track exercise), while hand sanitiser – a niche product at the end of 2019 – had become a household staple within weeks of Covid-19 arriving in the UK early last year.

    The ONS calculates inflation by monitoring monthly changes to the cost of an array of goods and services from pricing points across the UK, from online retailers and over the telephone. The basket is designed to represent spending habits and reflect change in consumer behaviour. Last year’s changes reflected the increased popularity of craft gins and self-tanning products.

    This year, 17 items have been added to the basket, 10 removed and 729 left unchanged. Announcing the annual update, the ONS said it had taken note of the lifestyle changes forced on Britain as the public adapted to the coronavirus.

    The shift in sales of new cars away from petrol and diesel models meant hybrid and electric cars were included. The ONS said the addition of smart/wifi lightbulbs was down to people making home improvements during lockdown.

    Sam Beckett of the ONS said: “The pandemic has impacted on our behaviour as consumers, and this has been reflected in the 2021 inflation basket of goods.

    “The need for hygiene on the go has seen the addition of hand sanitiser, now a staple item for many of us. Lockdown living has seen demand for home exercise equipment rise, while spending more time within our own four walls has also encouraged us to invest in smart technologies.

    “A more casual approach to clothing, as more of us work from home, has seen the addition of loungewear into the consumer basket.”


    Other items included in the basket this year include couscous and pre-prepared frozen vegetables.
    Items removed from the basket include:
    • White chocolate bars–which have been replaced by malted chocolate sweets, such as Maltesers.
    • Fruit smoothies – because evidence has shown a shift towards mixed fruit and vegetable drinks.
    • Ground coffee – which has been replaced by coffee sachets to reflect the trend towards all-in-one drinks.
    • Axminster/Wilton carpets– which have been removed because research and anecdotal evidence from retailers has indicated that this type of carpet is now used mainly in commercial premises.
    The annual inflation rate as measured by the consumer prices index stands at 0.7% – below the government’s 2% target.






    "You’re just a bad memory who doesn’t know when to go away" JR

    #2
    Have they added taxes to it yet?

    Comment


      #3
      Originally posted by AtW View Post
      Have they added taxes** to it yet?
      Only Uber ....


      ** Can someone explain to Vetran that this is a play on words?
      I am what I drink, and I'm a bitter man

      Comment


        #4
        Originally posted by SueEllen View Post

        It always amuses me what crap they add and remove from the basket of goods. ...
        What have they gone and added this time? Carriage lamps and wind-up gramophones?

        Seriously, it would be far better if they just had a list of the same staple items on the list year after year, instead of trying to be clever. Otherwise it is obvious they are massaging the figures, for example by newly adding high-tech items that are coming down in price, to make the apparent inflation rate seem low, which there is obviously a big incentive for the government to do.
        Last edited by OwlHoot; 15 March 2021, 15:25.
        Work in the public sector? Read the IR35 FAQ here

        Comment


          #5
          LED TVs out - OLEDs are in, that brings inflation down nicely therefore totally independent BoE won’t have to raise rates by more than 0.25%

          I’ve seen more honest stats in Pravda

          Comment


            #6
            Originally posted by AtW View Post
            LED TVs out - OLEDs are in, that brings inflation down nicely therefore totally independent BoE won’t have to raise rates by more than 0.25%

            I’ve seen more honest stats in Pravda
            Yep, perfect example of what I was saying above. Almost by definition, newly available trendy increasingly popular items will be coming down in price, due to technical advances and economies of scale and in their manufacture!

            So in short, these figures are probably a load of deliberatelty misleading bollox.
            Work in the public sector? Read the IR35 FAQ here

            Comment


              #7
              Originally posted by OwlHoot View Post

              Yep, perfect example of what I was saying above. Almost by definition, newly available trendy increasingly popular items will be coming down in price, due to technical advances and economies of scale and in their manufacture!

              So in short, these figures are probably a load of deliberatelty misleading bollox.
              Dumb bells have gone up in price. Ask Mike Ashley...
              "You’re just a bad memory who doesn’t know when to go away" JR

              Comment


                #8
                Originally posted by OwlHoot View Post

                What have they gone and added this time? Carriage lamps and wind-up gramophones?

                Seriously, it would be far better if they just had a list of the same staple items on the list year after year, instead of trying to be clever.
                Even our consumption of traditional 'staples' changes over time. I imagine the typical British dinner looks rather different than 30 years back, let alone 60.

                Case in point, they just took out ground coffee in favour of sachets, but not that long ago it would have been instant coffee. And the tea/coffee balance has shifted a lot.
                Originally posted by MaryPoppins
                I'd still not breastfeed a nazi
                Originally posted by vetran
                Urine is quite nourishing

                Comment


                  #9
                  Originally posted by d000hg View Post
                  Even our consumption of traditional 'staples' changes over time. I imagine the typical British dinner looks rather different than 30 years back, let alone 60.

                  Case in point, they just took out ground coffee in favour of sachets, but not that long ago it would have been instant coffee. And the tea/coffee balance has shifted a lot.
                  It does but I'm fairly sure most households have always bought things like loo roll, milk, bread, shampoo, soap, laundry detergent, etc.

                  It shouldn't be hard to get retailers to state what products are in the top 75th percentile by volume. (Tweak the percentile by whatever line you want to draw in your sandpit)

                  Comment


                    #10
                    Originally posted by ladymuck View Post

                    It does but I'm fairly sure most households have always bought things like loo roll, milk, bread, shampoo, soap, laundry detergent, etc.
                    But instead of a loaf, many are now buying artisanal gluten-free baguettes. Milk is replaced with Oatly.

                    It shouldn't be hard to get retailers to state what products are in the top 75th percentile by volume. (Tweak the percentile by whatever line you want to draw in your sandpit)
                    This might be a better approach.
                    Originally posted by MaryPoppins
                    I'd still not breastfeed a nazi
                    Originally posted by vetran
                    Urine is quite nourishing

                    Comment

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