Article preview: The notional baskets of goods and services used to calculate average experiences of price inflation have received an update. The Office for National Statistics (ONS) reviews its inflation shopping basket once a year. Some items are removed, and some are added, with the aim of maintaining a notional basket that is reflective of our everyday shopping habits. For the 2019 review, 16 items were added to the basket, which is used to calculate the Consumer Prices Index (CPI) measure of price inflation.
Smart speakers added to price inflation basket
This 505 word blog post describes the latest annual review of the notional price inflation basket, with some of those items added and removed, and the importance of inflation when it comes to financial planning. Written on 12th March 2019.
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