Changes to the inflation basket points to shifting consumer eating habits

Posted on 14/03/2017 · Posted in Palm PR

On the 14th March, the Office for National Statistics, the recognised national statistical institute for the UK, updated the basket of goods used to measure the UK’s inflation rate.

Included for the first time was dairy-free milk and, returning after a 13-year absence, was gin.

700 goods are included in the basket. Their prices are tracked in over 20,000 UK outlets and this information is used to calculate the rate of inflation.

Inclusion in the basket is proof of an item’s popularity and can lead to positive growth in the category by encouraging investment and innovation in businesses that produce these products.