The price increases, especially for energy and food, hit those who already have little money at their disposal.
According to a recent study, low-income families continue to suffer particularly badly from high inflation. While the cost of living for German households as a whole was 10.4 percent higher than the previous year’s level in October, low-income families even had to pay 11.8 percent more for their typical purchases.
This emerges from the current inflation monitor of the Institute for Macroeconomics and Business Cycle Research (IMK) of the Hans Böckler Foundation, which is close to the trade union. The price increases hit single households with high incomes the least. Their cost of living increased by 8.4 percent.
“The war-related price jumps in energy and food continue to dominate inflation. As in previous months, they are having a particularly strong impact on households with lower incomes,” stressed the authors of the study, Silke Tober and Lukas Endres. According to the study, those living alone with low incomes also suffered significantly more than the average from the high price increases. Their cost of living increased by 11.4 percent.
The background: The currently biggest price drivers – household energy and food – have a significantly larger share of the total shopping basket for households with low to middle incomes than for the wealthy.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
