Inflation Basket Downloads On Demand Video

Paid-for on demand TV and movie downloads have been added to the so-called basket of goods and services used to calculate UK inflation.

The Office for National Statistics (ONS) said it was introducing programme streaming services, such as Netflix and Now TV, to its list in place of online DVD rental subscriptions.

Also included - from February - are digital cameras with an interchangeable lens, plant food, men's clothing hire, wild bird seed and  canvas shoes.

The growth of mobiles and tablets have fed demand for streaming services

In terms of groceries, flavoured milk and fruit snacking pots were also added.

Out went items including DVD recorders, wallpaper paste and tufted carpets.

The ONS updates the basket each year to ensure it reflects up-to-date spending trends.

It uses more than 180,000 items each month to measure inflation - with the Consumer Prices Index (CPI) and the Retail Prices Index (RPI) the most-commonly used in public life.

Inflation affects the level of state pensions and benefits and is used by the Bank of England to help monthly interest rate decisions.

The Bank has a CPI inflation target of 2% which was last measured in January at an annual rate of 1.9%.

RPI, which is a broader measure and includes house prices and council tax, is typically higher than CPI and is currently at 2.8%.

:: Watch Sky News live on television, on Sky channel 501, Virgin Media channel 602, Freeview channel 82 and Freesat channel 202.

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