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ONS basket reveals inflation's 80-year spending shift

Source: thetimes.com

The Office for National Statistics updated its inflation basket after 80 years, showing how Britons' spending habits have changed dramatically.
Key items added include vinyl records, gluten-free bread and air fryers, while wartime staples like rice pudding and rabbit meat were dropped.
This reflects modern lifestyles, helping track true inflation more accurately for everyday costs.

The Office for National Statistics (ONS) has refreshed the basket of goods used to measure inflation, marking 80 years since its creation in 1947. This update tracks shifts in what people buy, from post-war basics to today's trends like vegan food and tech gadgets. It involves economists analysing millions of purchases to keep the consumer prices index (CPI) relevant. Readers care because it shapes how inflation is calculated, affecting wages, pensions and mortgages.