Changes in technology have a big impact on the composition of the basket. In this update, DVD players and satellite dishes are out while soundbars and speakers are included.
In the 2016 update, rewritable CDs and postage stamps were removed from the basket, while the VHS recorder was removed back in 2009.
“A few tweaks were also made to items already in the basket. With the growth in the use of data services, the item ‘internet usage’ was split into wired (for example, fibre) and wireless (for example cellular) forms of access. Energy saving and traditional light bulbs, previously listed as separate items, were amalgamated into one product after the near disappearance of incandescent bulbs,” said Stats SA.
The item “pre-recorded CDs” was renamed “CDs, subscription and streaming music” to reflect the growth in consumer appetite for streaming music services.
Other items on the list include personal care products such as razors, wipes and make-up (foundation), as well as household items such as floor and wall tiles and fabric softener.
The inflation basket is the bedrock from which the consumer price index (CPI) is calculated. Prices for all items in the basket are collected regularly. Stats SA measures the changes in the prices to calculate the inflation rate and the change in the cost of living.
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South Africans have increasingly spent on gin and cappuccinos, says Stats SA
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Gin and cappuccino sachets have been included in the consumer inflation basket.
DVD players have been chucked out and the segment on CDs has been amended to include music streaming.
This was announced by Stats SA on Monday as it published the changes, providing insight into how household spending habits have shifted since 2016.
“Gin is the only new inclusion in the alcoholic beverages category, reflecting its growing popularity among consumers in SA. Cappuccino sachets have also entered the basket, as well as dairy/fruit juice blends, samp, puréed baby food and jam,” said Stats SA.
The basket is updated at least every five years to ensure it adequately reflects trends in household spending, technology, and consumer tastes.
It contains 415 items, up from 404 in 2016. A total of 14 new items were added and two items were removed from the basket. Some products were either split into two or combined into one.
New trends to raise a glass to
Changes in technology have a big impact on the composition of the basket. In this update, DVD players and satellite dishes are out while soundbars and speakers are included.
In the 2016 update, rewritable CDs and postage stamps were removed from the basket, while the VHS recorder was removed back in 2009.
“A few tweaks were also made to items already in the basket. With the growth in the use of data services, the item ‘internet usage’ was split into wired (for example, fibre) and wireless (for example cellular) forms of access. Energy saving and traditional light bulbs, previously listed as separate items, were amalgamated into one product after the near disappearance of incandescent bulbs,” said Stats SA.
The item “pre-recorded CDs” was renamed “CDs, subscription and streaming music” to reflect the growth in consumer appetite for streaming music services.
Other items on the list include personal care products such as razors, wipes and make-up (foundation), as well as household items such as floor and wall tiles and fabric softener.
The inflation basket is the bedrock from which the consumer price index (CPI) is calculated. Prices for all items in the basket are collected regularly. Stats SA measures the changes in the prices to calculate the inflation rate and the change in the cost of living.
TimesLIVE
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