Commenting on the latest CPI Basket of Goods and Services annual review from the ONS, Linda Ellett, UK head of consumer markets at KPMG in the UK, said:
“The ONS basket of goods offers us a fascinating look at the current state of play for consumers today. Whilst primarily looking to improve the accuracy of CPI measurement, we also see how consumer trends, technological advancements and the latest fads are redefining the consumer landscape more broadly.
“If our social media hasn’t already made it blindingly obvious, the rise of the
consumer continues to dominate. Indeed, having made the cut this year, popcorn has firmly established itself as a ‘healthier’ alternative to the humble crisp; peanut butter’s addition increasingly spreads out our go-to sources of ‘healthy fats’, meanwhile the addition of herbal and fruit teas is
to the growing prominence of wellness. In my mind
, this also prompts the key question of what or who is defining the consumer’s perception of health.
“Further to the central theme of health consciousness, general
drinks have been replaced with two distinct items: regular cola and the diet or
alternatives. This clearly reflects the impact of the
introduction, resulting in two distinct categories of product, and is just one way in which ‘health’ is being defined. This may well be a sign of things to come, as the increase of such ‘sin taxes’ seek to motivate healthier consumer choices which, at the same time, redefines how food and drink producers are having to adapt in their approach to the market.”
Notes to editors:
Full details of the ONS consumer price inflation basket of goods and services 2019 can be found: here
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