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Vinyl records are now so hot they move UK inflation
“Our inflation basket of goods offers a fascinating snapshot of consumer spending through the years,” ONS deputy director for prices Matt Corder said in a statement. “Often the basket reflects the adoption of new technology, but the return of vinyl records shows how cultural revivals can affect our spending,” he added.
BPI CEO Jo Twist said Monday that it was “entirely natural” for vinyl to be seen as a “popular indicator” of how people are spending their money.
“This much-loved format has seen demand grow consistently for nearly two decades, including among younger and more diverse consumers who stream daily but also love to own their favorite music on physical formats,” she added in a statement.
Vinyl records return to UK inflation basket for first time since 1992
Strong sales of Taylor Swift’s 1989 (Taylor’s Version) help format make an impact, as air fryers also join list
www.theguardian.com
Not since Simply Red’s album Stars topped the albums chart in 1992 have vinyl records been included in the basket of goods used to calculate annual inflation, but a rise in sales over recent years has brought them back as a marker of UK shop prices.
The Office for National Statistics (ONS) said the “resurgence of popularity” in vinyl records meant they should be included among the 744 items used to calculate inflation each month, in its latest annual shake-up of the basket.
Another generation corrupted ! !