ONS deputy director for prices Matt Corder, said in a statement: “Often the basket reflects the adoption of new technology but the return of vinyl records shows how cultural revivals can affect our spending.”
According to the digital entertainment and retail association ERA, the growth of the format has led to the number of independent record stores increasing. In 2023, the number increased by more than one third from 339 independent stores in 2014 to 461 last year.
UK record labels association, the British Phonographic Industry, reports that 5.9 million units of vinyl were sold last year, the highest annual level since 1990. “It’s good to see the ONS once again including vinyl LPs in its measure of what people are buying around the UK,” chief executive of BPI, Jo Twist, told The Guardian. “This much-loved format has seen demand grow consistently for nearly two decades, including among younger and more diverse consumers who stream daily but also love to own their favourite music on physical formats.”
Other items to be added to the list included air fryers, SD cards and USB sticks, pre-packed salads, rice cakes, gluten-free bread and spray oil.
Items to be dropped from the inflation basket included popcorn, sofa beds and hand sanitiser gel.
