At the beginning of 2010 I visited my local supermarket and as well as the petrol station down the road and gathered the prices of some goods. My initial intention was to try and do this weekly, but the results were very volatile and gave no real indication of underlying trends.
However, I thought that to do this exercise a year on after VAT has had time to filter through I decided to go through the process again.
I do shop very regularly and am always feeling that prices are rising far faster than the official RPI or CPI figures.
The initial shopping basket I chose was a random selection of brands and own brands that I do buy regularly and what I thought other people might buy regularly. No scientific method was applied.
When I went through this again this year some of the products are no longer offered and some own brand labelling had changed, so the provider may have changed. As the store has stopped selling CDs and DVDs I removed them from the list altogether.
When noting the prices down and selecting alternative products where some branded products were not available I chose on the basis of what I would buy as the alternative.
But now down to the nitty gritty.
Last year in Jan 2010 the basket of goods cost a total of Â£91.01p.
This year in Feb 2011 the (almost) same basket cost Â£88.60p.
That is a reduction of 2.65%, which came as a big shock to me. Maybe in the past I've taken far too much notice of the price rises and not properly acknowledged when I've found bargains.