Overview

• Vinyl records return to the UK's inflation basket for the first time since 1992, reflecting a significant surge in demand, especially among Generation Z.
• Sales of vinyl records hit their highest level since 1990, with nearly six million units sold last year, featuring popular albums from artists like Harry Styles and Taylor Swift.
• The Office for National Statistics updates the inflation basket, adding items such as air fryers and gluten-free bread, while removing products like hand sanitiser and Guinness.
• The changes in the inflation basket reflect shifts in consumer behavior, including the fading impact of the pandemic and a growing focus on healthier lifestyle products.
• The updated inflation basket will guide the Bank of England's decisions on interest rates, amid efforts to manage inflation rates that have recently shown signs of decrease.