New analysis from the Resolution Foundation shows that inflation for the poorest 10th of households has hit double digits, standing at 10.2%. It is now significantly higher than the 8.7% rate experienced by the richest 10th of households – itself a high level in historical terms. The disparity has widened as poorer households spend a greater share of their income on energy. The 1.5% gap is the highest on record, placing it above the last period of significant food price inflation, in the early 2010s.
Which is, of course, one of the reasons to be against inflation. Because the poor suffer more from it than the richer.
As opposed to a fairly common view out there, which is why not have a bit of inflation if it means that we get to play with more newly minted money?