http://www.guardian.co.uk/society/20...squeeze-income
Dont think we needed study to tell us something so obvious.
Stats here make eyes water.
Quote:
According to the ONS figures, food is 4.6% more expensive than a year ago, alcohol and tobacco 8% pricier, and housing and utilities up 6.2%. Only recreation and culture is cheaper than a year ago, with a small 0.6% decrease.
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What would love to know what the figures represent as population. Ok saying bottom 10% how many households does it mean.
As we seen stats can lie effectively saying 90% population can keep country ticking but we seen it not able to sustain the levels consumer spending. Like we see as spending volume bottom 10% likely spends 100% its income weekly. As higher up food chain you gou the 100% dwindles till possible at the top spends 1-15% weekly income.
Which means you need to get in peoples hands who will spend it to turn economies. With food increase, utilities housing makes issue worse when you got pay squeeze.
Quote:
The UK's poorest families are facing the tightest income squeeze of any group due to higher rates of inflation and lower wage boosts, according to new analysis of official figures conducted by the Trades Union Conference (TUC).
The bottom 10% of the country by income are facing effective inflation rates of 4.1% versus just 3.3% for the richest, while official Office for National Statistics (ONS) statistics from 2011 show the wages of the bottom 10% of earners rose just 0.7% compared with increases of 1.6% for the richest.
Taken together, the two measures suggest real wages for low-income families in Britain are falling twice as fast as those of their richer counterparts. In real terms, the bottom 10% of wage earners are 3.4% poorer than they were a year before versus a 1.7% drop for the top 10% year-on-year.
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