Basket of Goods

Basket of Goods 2019 – measuring inflation and tracking changing consumer trends

Categories: Data, Economy, Office for National Statistics, ONS

It’s that time of year when the ONS updates its famous ‘Basket of Goods and Services’. This time around there’s some notable additions and removals, which once again help to underline changing consumer purchasing behaviour.

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Measuring inflation: how ONS keeps track of changing spending habits

Categories: ONS

The updating of the legendary ‘basket of goods’ used by ONS to calculate inflation is a popular annual ritual. The products and services newly included – and those consigned to the statistical dustbin – tell the story of our changing consumption habits. But how accurate can the inflation figures be if you never buy  any of these items?  Phil Gooding explains.     

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