Monday, March 15, 2010

Just Toss the Lip Gloss into that Basket of Goods

So apparently the UK has added lip gloss to it's basket of goods used to determine the rate of inflation. Some of these 180,000 goods, like gas, are there because they are important categories of spending in their own right, while others, like spades, are important because they are proxies for a larger group (garden tools).

I don't know why I find this news so amusing, but I would like to know (in case the relevant British economists are reading this, which I'm sure they are) that lip gloss takes up a large part of my personal grooming budget, and should be used as a proxy for said category.

Lastly, besides the dried potatoes thing, the list of things that came in and out in the 70's perfectly reflects my own consumption habits in the 80's. As a little kid. I don't know what that means.