Sign of the times: Tinned gin in and fruit pies out of UK inflation basket
Self-tanning products, gin in a tin, reusable mugs and gluten-free cereals have been added to the basket of goods used to calculate inflation as Brits go eco-friendly and health-conscious.
Meanwhile, frozen imported legs of lamb, fruit pies and frozen chicken breasts have been chucked in the bin to better reflect consumers’ changing tastes.
The Office for National Statistics (ONS) has a basket of goods that it uses to measure the changing costs of products and services over time. Each year, it switches around some of the products to make sure it captures what UK consumers are buying.
This year, the arrival of vegetable crisps and “free-from” cereals in the basket highlights Brits’ increasing concerns about their health. Home-killed beef and fresh turkey steaks have been ditched.
Self-tanning products make it on to the list, and could become even more popular this year as holidaymakers looking for a golden glow are forced to stay in the British isles.
Alcohol products are still a staple, but consumers increasingly favour their cocktails in a can.
“The gin trend shows no sign of slowing, with an extra entry for gin added to the basket to reflect how much we all love the tipple and the variety of options out there,” said Laura Suter of AJ Bell.
When not enjoying a metallic mojito, Brits are more likely than ever to be drinking their coffee or water from a reusable bottle or cup in the name of saving the planet.
ONS senior statistician Philip Gooding said: “Many consumers are looking to decrease their environmental impacts.”
The ONS collects 180,000 separate price quotations every month, covering around 700 representative consumer goods in 140 locations across the UK to help reach its figure for the consumer price index (CPI) measure of inflation.
Gooding said: “In addition to updating the goods and services that are included, the ONS also updates the weighting of each item within the basket to ensure the overall inflation rate reflects household’s spending habits as closely as possible.”