Gin added to UK inflation basket
14th March, 2017 by Nicola Carruthers
Gin has been added to the inflation basket after a 13-year absence due to the “significant growth” of small producers, according to Britain’s Office for National Statistics (ONS).
Gin has been added to the inflation figures due to the rise in the number of small gin producers
The ONS reviews which goods and services it counts towards its inflation calculations once a year in order to reflect changing consumer spending patterns.
According to the organisation: “In addition to introducing items to represent distinct sectors or markets, a number of items have been introduced to diversify the range of products collected for established groupings, usually where spending is significant.
“Gin has been added [because] expenditure has risen, following a reported increase in the number of small distilleries over recent years.
“Its inclusion will help interpretation of the spirits section of the baskets where there is a high degree of price volatility due to periodic discounting.”
Senior statistician Phil Gooding, commented: “The annual basket review enables us to keep up to date with all the latest trends, ensuring our inflation measures reflect the changing costs experienced by consumers.”
Chief executive of the Wine and Spirit Trade Association, Miles Beale, said: “2016 became known as the Year of Gin and we have seen the quintessentially British spirit continue to fly off the supermarket shelves.
“It comes as no surprise to us that gin has become a regular feature on the UK shopping list and made it into the ONS typical basket. Last year gin sales both home and abroad smashed all records. We broke the £1 billion mark for the first time for sales in the UK and sold more British gin overseas than ever before, worth almost half a billion pounds.”
Other items added to the basket include non-dairy milk, basic mobile phone handsets and bicycle helmets.