Streaming Video Services Added to U.K. Inflation Measurement List
In a change designed "to capture the growing video-on-demand market," Netflix and company replace DVD recorders and online DVD rental subscriptions.
LONDON -- Britain has added streaming video services, such as Netflix and Amazon Instant Video, to the basket of goods used to measure inflation.
The change was designed "to capture the growing video-on-demand market" and changing consumer habits, said the Office for National Statistics.
Meanwhile, DVD recorders and online DVD rental subscriptions have been dropped from the basket.
The Guardian reported that the annual changes to the list of goods used to calculate inflation also saw honey, fruit snack boxes and canvas shoes added, but take-out coffee, hardwood flooring and gardeners' fees dropped out.
The latest products basket contains 699 items.
U.K. inflation has recently been on the decline, dropping below the targeted 2 percent for the first time in more than four years in January.