Yoga mats and VR headsets added to inflation basket | Global News Avenue

Some people may use yoga mats and virtual reality headsets to mentally escape everyday grinding, but now statisticians are using them to map how much the cost of living increases.

Both projects entered the goods and services basket used by the Office of Statistics (ONS) to calculate inflation.

The basket contains 752 items. ONS collects the costs of these products and services from many different retailers to present monthly inflation data.

That number is currently displayed Prices rise 3% per yearis a key economic measure that affects borrowing costs – interest rates – as well as rising benefits and pensions or forms part of compensation negotiations.

The content of this large piece of goods and services is reviewed every year to ensure it can accurately cross-section and weight our spending data.

But each added or removed content also gives us fascinating insights into changing tastes, trends, and lifestyles.

For example, the Hare was one of the first list in 1947. Teabags were not made until 1980.

This time, 23 items have been added and 15 items have been removed from the basket.

“Our inflation basket shows how consumer spending has evolved over the years,” said Stephen Burgess of ONS.

“For the first time, VR headphones are added, which shows our interest in emerging technologies. Yoga mats are also bent over, which is a new addition due to the increased popularity since the pandemic.”

ONS said spending on VR headsets is expected to increase from about £347 million last year to £520 million in 2029.

Meanwhile, exercise mats are not only used for yoga, but also for other types of home exercises.

Men’s sliders or pool sandals are also added. Pulled pork also replaces the oven-ready gammon joint.

Mango is a supplement to choosing fruit, and cushions can enhance soft lounge furniture in underrepresented.

On the other side of the ledger, a reflection of the circulation and prominence of the newspaper means that the advertisements in the local rag have been removed.

ONS says anecdotal evidence suggests that many of these tones are now found on online platforms.

last year, Vinyl records returned after 30 years of absence. An air fryer was also added, but the manual jammer (among the essentials for the common year) was removed.