Tuesday, March 14, 2017

Dumbphones are so obsolete, they’re no longer used to measure inflation

The UK government’s Office for National Statistics (ONS) determines the annual rate of inflation by creating an standard shopping basket (which has the totally-snappy title of the “Consumer price inflation basket of goods and services“), and seeing how it changes year-on-year. The products include common household goods, essential foodstuffs, as well as consumer electronics. The idea is to reflect what the average British consumer spends their hard-earned shillings on. Today, this basket bulges with such 21st century essentials like streaming subscription services, game downloads, and set-top boxes. But as time goes on, certain things are removed. Today, the ONS announced that…

This story continues at The Next Web

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