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

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

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.

Recent from Sky News:

Tories have no understanding of ‘early intervention,’ says Lucy Beaumont

Watch live: Sir Keir Starmer delivers keynote speech at Labour conference in Liverpool

Ukraine War: Thousands of Russians flee call up to fight

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.

1 Recent Items: Inflation

The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.