Mar 11, 2019
Smart speakers and baking into inflation basket
Smart speakers, such as the Amazon Echo device, have been added to the basket of goods used to measure the movement of prices. These price movements of 700 goods and services are used by the Office for National Statistics to calculate the rate of inflation. Prices are measured in 20,000 UK outlets to calculate inflation, which itself is used as a benchmark for our finances. This basket of goods reflects contemporary habits and technology to work out the inflation rate, which charts the changing cost of living. Last year, women's leggings and mashed potato replaced pork pies and lager sold in nightclubs in the inflation basket.
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