Virtual reality headsets and yoga mats are two items the Office for National Statistics has added to its virtual basket of goods and services used to calculate inflation.
VR headsets were one of the 23 new additions to the 700-item basket, with the ONS explaining that expenditure has been growing and is expected to continue from the £347 million spent in 2024 to reach £520 million by 2029.
US tech giant Meta Platforms Inc (NASDAQ:META), owner of Facebook and Instagram, is a dominant player from its Oculus VR range, while Sony, HTC, Apple and TikTok owner ByteDance also have sizeable market shares.
Other new additions in this year's changes wer men’s sliders (pool sandals) and pulled pork, while a sad sign for the media industry was that local newspaper adverts were one of the 15 items removed, with a decrease in demand for printed adverts placed in local papers as adverts are now usually placed online.
"Our inflation basket of goods shows how consumer spending has evolved over the years," says ONS deputy director for prices Stephen Burgess.
"The addition of virtual reality headsets for the first time shows our appetite for emerging technology, while the loss of printed newspaper adverts demonstrates a continuing shift towards the online world.
"The desire for convenience amidst our busy lifestyles also plays a part in this year’s basket changes. Consumers are choosing easier options in the kitchen, so oven-ready gammon joints make way for the quicker choice of pulled pork."
He said slider sandals were added to the basket as a rapidly growing part of the male footwear market, while yoga mats have seen increased popularity since the pandemic.