It's a sad day on Savile Row and Jermyn Street as men's suits have fallen far enough out of favor that the government is dropping them from its inflation measurement basket.
Gone, too, from the gauge are doughnuts and coal, a sign of major changes in household spending that have taken place during the pandemic. They'll be replaced by trendier alternatives such as sports bras, antibacterial wipes, and fake meat.
Given that the pandemic has led to an enormous shift in work culture, especially with the growth of working from home and hybrid work models, men’s suits were cut from the virtual bundle and replaced with jackets and blazers to reflect a move toward more casual dress.“The 2022 basket of goods sees some really interesting changes, with the impact of the pandemic still evident in our shopping habits,” said ONS Head of Economic Statistics Sam Beckett.
Many people have also decided to cut out meat from their diets in favor of a vegan or vegetarian lifestyle. To reflect the shift away from animal products, the government now includes canned beans, chickpeas, and lentils alongside meat-free sausages in its inflation gauge. Several fast-food restaurant chains have also begun to incorporate plant-based mock meat products into their menus.
The ONS removed doughnuts from its inflation bundle as sales of individual cakes declined. Dried herbs were added to the list to represent the growing home cooking trend, which has continued even as the pandemic waned.Some who live alone and were forced to work from home went days without having a face-to-face conversation and sought to alleviate their feelings of isolation by purchasing pets.
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