In the News
CPI Basket Changes for 2023 are Announced
The annual ONS change to the consumption bundle has been announced today, with the usual raft of movements into and out of the bundle in line with consumer shopping habits.
In this case, e-bikes, frozen berries, home security cameras, soundbars and sanitary towels are in and some CDs, digital cameras, 20 packs of super-king size cigarettes, alcopops and tampons are out.
The changes are designed to keep CPI relevant and reflecting what consumers actually buy in a given year.
The Ins and Outs always provide fuel for profitable classroom discussion about some of the causes of changes in revealed preferences and household spending habits. They can also be the medium term result of different forms of government intervention and technological change.
Please read: Inflation: Alcopops out and frozen berries in for cost of living measure (BBC news)