Classic "Shopping Basket" Will Soon Include the Junk We Buy Online

By Gary Cutlack on at

The way the suits count how the prices of things are going up is about to change, with our online boredom shopping soon to form part of the standard UK shopping basket that makes up retail inflation figures.

The Office for National Statistics says that online shopping accounts for nearly 20 per cent of all UK retail spend, so basing the inflation figure on the price of grandma's Oxo cubes is getting a bit outdated. The ONS says that 750,000 individual prices from online retailers will soon be included in its data, and with internet prices more volatile than high street alternatives it could be a bit like when they started letting streaming music count in the charts. A bit all over the place and likely to benefit Ed Sheeran.

These new shopping measures will soon be added to the Consumer Prices Index, a key measure of inflation used to peg other state spending on. [Telegraph]