We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Ah, that's alright then!

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!
«1

Comments

  • Reaper
    Reaper Posts: 7,339 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    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.
  • LesU
    LesU Posts: 338 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!
    MP3 players have also been removed! After all, iPods are so yesterday, aren't they?
    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.
  • Blah99
    Blah99 Posts: 486 Forumite
    Reaper wrote: »
    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.html
    Mmmm, credit crunch. Tasty.
  • nicko33
    nicko33 Posts: 1,125 Forumite
    LesU wrote: »
    MP3 players have also been removed! After all, iPods are so yesterday, aren't they?
    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 ;)
  • nicko33
    nicko33 Posts: 1,125 Forumite
    LesU wrote: »
    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.
    This would probably be covered by the little publicised pensioners prices index (or whatever they call it) that they issue quarterly

    it is on the ONS website somewhere
    I'll see if I can find it again and post a link
  • john_s_2
    john_s_2 Posts: 698 Forumite
    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.
  • RayWolfe
    RayWolfe Posts: 3,045 Forumite
    1,000 Posts Combo Breaker
    Blah99 wrote: »
    There used to be something called the Mars Bar index:

    http://specials.ft.com/nicocolchester/FT3WNIFSEIC.html
    I remember it well; it was regurgitated* over many months.

    * The idea, not the Mars bars.
  • RayWolfe
    RayWolfe Posts: 3,045 Forumite
    1,000 Posts Combo Breaker
    john_s wrote: »
    Any suggestions for absolute essentials?
    Red Wine .... ?
  • cocktail
    cocktail Posts: 377 Forumite
    what no plasma tv's.
  • LesU
    LesU Posts: 338 Forumite
    nicko33 wrote: »
    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:
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.2K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.3K Spending & Discounts
  • 240.8K Work, Benefits & Business
  • 617K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.