The IFS said that the difference had been particularly strong since 2008.-Inflation 'is higher for the poor than for the rich'
The poorest 20% of households faced an average annual inflation rate of 4.3% between 2008 and 2010, while the richest 20% only had a rate of 2.7%.
People on lower incomes spend more of their money on gas, electricity and food, which have risen sharply.
At the same time, people with higher incomes have benefited more from lower mortgage rates.
Pensioners have experienced higher inflation than non-pensioners and pensioners relying on state benefits have been hit particularly hard
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Wednesday, June 15, 2011
Inflation Hurts The Poor More