Tablet Computers Added to Basket Of Goods & Services Used To Measure Inflation | Business | Sky News

Tablet computers and teenage fiction have been added to the list of items that the Office for National Statistics (ONS) uses to calculate inflation.

The so-called ‘shopping basket’ is reviewed each year and items are added or removed according to their on-going relevance in modern consumer society.

Also added for 2012 are cans of Stout to differentiate between other beers, pineapple and baby wipes.

“We already collect apples, pears, oranges, grapes, bananas etc, but exotic fruit is becoming more popular so we brought in pineapple to represent the consumers who purchase that,” explains Darren Morgan from the ONS.

The basket traditionally keeps track of changing technological habits; Smartphones and Apps were added in 2011 and bundled communication packages (internet, phone and tv subscriptions) have been included this year.

Conversely, the cost of developing and printing colour camera films has been removed due to the now virtual dominance of digital cameras.

But it can also characterise what might be best described as guilty pleasures: takeaway chicken and chips is a new addition to the 2012 list.

via Tablet Computers Added to Basket Of Goods & Services Used To Measure Inflation | Business | Sky News.

Strange Random Inflation Quote:

“By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.” – John Maynard Keynes(English economist, journalist, and financier, 1883-1946)

 

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Posted on March 13, 2012, in Article and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

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