Inflation hits low paid hardest
by Mehak Dugal
 
The massive hikes in food and energy bills, are further pinching the disposable incomes available with lower earners.
The massive hikes in food and energy bills, are further pinching the disposable incomes available with lower earners.

Workers on lower incomes face a higher rate of inflation than the average according to a recent report from the Central Statistics Office (CSO). It estimates that June inflation of 9.1% went as high as 10.3% for lower income households, and as low as 8.2% for higher earners period.

 

This is because spending on essentials makes up a larger part of lower earners’ outgoings. So inflationary hikes on those products hit them hardest.

 

The CSO estimates that lower earners spend a larger share of their income on essentials like food and fuel, and the rise in the prices of these products has a much worse effect on their incomes.

 

The massive hikes in food and energy bills, are further pinching the disposable incomes available with lower earners.

 

Earlier this week, it was reported that eurozone inflation also hit another record high this month at 9.1%

 

Read the CSO’s Inflation by Household report HERE

 

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