Belfast Telegraph

UK Website Of The Year

Inflation rate boffins put champagne on ice

By Holly Williams

Champagne sold in restaurants and bars has been removed from the basket of goods and services used to calculate inflation rates.

In the latest sign that consumers are cutting back on the finer things in life since the financial crisis, the Office for National Statistics (ONS) has removed bottles of champagne in the on-sales market from the basket to reflect falling sales, instead adding off-licence sales of white rum and hot chocolate.

E-books read on digital readers such as Kindles are in, while digital television recorders have replaced Freeview set-top boxes.

The ONS updates the basket each year to ensure it reflects up-to-date spending trends.

The consumer prices index (CPI) and retail prices index (RPI) rates of inflation are calculated using 180,000 price quotations every month, covering around 700 goods and services from 150 areas across the UK.

The ONS said e-books now "represent a significant and growing market, with recent increases in the number of people reading books digitally".

Belfast Telegraph

Popular

From Belfast Telegraph