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Netflix is now being used to measure inflation in the UK

Matt Brian, @m4tt
March 13, 2014
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Video streaming has grown so much in the UK that authorities are now using it to help calculate inflation rates. The Office of National Statistics announced today that it has added Netflix and Amazon Instant Video to the UK's "basket of goods," measuring consumers' love for House of Cards to get a better idea of what people are spending their money on. Recognizing the shift away from discs, the UK body has also dropped DVD recorders and replaced them with digital TV recorders (DVRs), including Sky+, Virgin Media TiVo and YouView boxes. Interestingly, interchangeable lens cameras have been added for the first time, driving home just how much of an effect the smartphone has had on sales of point-and-shoots. Smartphones and tablet sales are already being tracked, of course, as are ebooks, but now demand for Frank Underwood and co. (as well as hundreds of other products and services) will be used to help shape UK interest rates, pensions and even train ticket prices.

[Original image credit: nomadic_tendancies, Flickr]

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