Cost of living: Poorest hit hardest by inflation

Sky News published this video item, entitled “Cost of living: Poorest hit hardest by inflation” – below is their description.

Energy is still the biggest annual driver of inflation and is only going to get worse when the price cap is lifted in the autumn.

Data analysis by Sky News has shown that the poorest 20% of the country is being hardest hit by energy inflation due to spending more on their bills.

The least hard hit is the wealthiest 20% and the gap is only going to widen.

#SkyNews #costofliving #Inflation

Sky News YouTube Channel

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About This Source - Sky News

Sky News is a British free-to-air television news channel and organisation. Sky News is distributed via a radio news service, and through online channels. It is owned by Sky Group, a division of Comcast. John Ryley is the head of Sky News, a role he has held since June 2006.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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