Halifax maps the banking life of the nation

24 March 2005
Following the release this week of the updated Retail Prices Index (RPI) shopping basket for 2005 by the Office of National Statistics, Halifax has analysed the ways the nation's spending has changed over the last five years.

The RPI shopping basket lists a selection of representative items found on the mind of the average British consumer, mapping price inflation but also the changing consumer moods in Britain over time.

According to Halifax's analysis of the RPI shopping basket, banking services have changed over the last five years, with an increased focus on personal banking, and the introduction of ATM charges to the shopping basket this year.

"The changes made to the RPI basket over the past five years reflect the key changes and trends that have affected both society and the lifestyles of the nation," comments Ray Milne, managing director of Halifax Financial Services.

"The basket of goods also reflects trends in banking services - from the introduction of overdraft rates in 2001, right through to the removal of annual credit card fees from the basket in 2002."

The ways in which British people spend their leisure time are also reflected in the basket - caffe lattes from coffee shops were added in 2003 and visits to the bingo hall were dropped as we entered the new millennium.

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