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Ah, that's alright then!

Onawingandaprayer
Posts: 642 Forumite


Rose wine, portable video players and online DVD rentals have been added to a typical basket of goods that is used to calculate inflation.
No manipulation of figures there then!
No manipulation of figures there then!
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Comments
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The change means it is hard to compare one year with another, but it doesn't necessarily mean the figures are being manipulated. The theory is that peope's buying habits are changing. For example online DVD rentals have been added and renting DVDs from video shops is being taken out. That's valid for me as I use online rental and haven't been inside a rental shop for many years.
However it's shame there is isn't also an index which uses purely consistent products such as bread and petrol as you can't currently say inflation is more or less than it was in the past, which makes it rather pointless.0 -
Onawingandaprayer wrote: »Rose wine, portable video players and online DVD rentals have been added to a typical basket of goods that is used to calculate inflation.
No manipulation of figures there then!
I agree that there should be an index which uses an essential basket of commodities that can be considered central to the buying habits of the majority of population. That should be the inflation index used to estimate things like increase or decrease in poverty or the regulation of peoples wages. That basket wouldn't need to be changed so much as the current one.0 -
However it's shame there is isn't also an index which uses purely consistent products such as bread and petrol as you can't currently say inflation is more or less than it was in the past, which makes it rather pointless.
There used to be something called the Mars Bar index:
http://specials.ft.com/nicocolchester/FT3WNIFSEIC.htmlMmmm, credit crunch. Tasty.0 -
MP3 players have also been removed! After all, iPods are so yesterday, aren't they?
MP3 players are so yesterday, because people now want MP4 players.
e.g. the new generation of iPods that play Video
maybe that's why portable video players have been added to the index0 -
I agree that there should be an index which uses an essential basket of commodities that can be considered central to the buying habits of the majority of population.
it is on the ONS website somewhere
I'll see if I can find it again and post a link0 -
You have to dig a bit on the ONS site, but the prices of bread, petrol etc are tracked separately. I think you need to look at the individual monthly reports though so it'd take a while to put your own index together!
Even "essential" items will change over time. We eat a completely different diet to the one we did a hundred years ago, for instance. And we didn't buy petrol.
Any suggestions for absolute essentials? Bread is an obvious choice. And Waitrose All Butter biscuits.0 -
There used to be something called the Mars Bar index:
http://specials.ft.com/nicocolchester/FT3WNIFSEIC.html
* The idea, not the Mars bars.0 -
what no plasma tv's.0
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You're half right.
MP3 players are so yesterday, because people now want MP4 players.
e.g. the new generation of iPods that play Video
maybe that's why portable video players have been added to the index
So I was right to go for the Touch! I feel better now that I've been given official backing from the ONS.
I've now got a cast iron reason to give to the OH!:T
"Red Wine ...?"
Well that will knock up the personal Index by a few points!
These days even doing a Euro run isn't getting the price of that down much.
Still, if we all try hard enough, we can sit down with a nice glass or two of Merlot and know we are doing our bit to stave off the spectre of deflation!:beer:0
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