Gin replaces spirit-based drinks in ONS inflation basket
The ONS, which has not included the price of gin in inflation calculations for 13 years, today unveiled it had re-introduced it in light of "increased expenditure" on the popular tipple, which has replaced spirit-based drinks in the basket.
Gin has been added to the Office for National Statistics (ONS) virtual inflation basket of goods following the rise and rise of the spirit.
The ONS, which has not included the price of gin in inflation calculations for 13 years, today unveiled it had re-introduced it in light of "increased expenditure" on the popular tipple, which has replaced spirit-based drinks in the basket.
Boosted in part by the significant growth in the number of small gin producers, take-home gin sales grew 16.1% to £338.3m on volumes up 16.2% in the 52 w/e to 19 June 2016 (Kantar Worldpanel), with brands the big winners - 600,000 more households bought branded gin in 2016 compared with 2013.
With gin continuing to fly off supermarket shelves, the Wine & Spirit Trade Association (WSTA) said it came as no surprise the spirit had made it into the ONS typical basket.
"2016 became known as the Year of Gin, with sales smashing all records," said chief executive Miles Beale.
"We broke the £1bn 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."
The annual basket review enables the ONS to keep up to date with all the latest trends, ensuring its measures reflects the changing costs experienced by consumers.
Keywords:
Search
56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
