You are here: Home - Household Bills - News -

Poorest hurt most by fuel price surge

0
Written by:
09/09/2006

The poorest sectors of society have suffered the most from the hikes oil prices have undergone over the last two years.
A study by John Hawksworth, the chief economist at PricewaterhouseCoopers, explodes the myth that the middle class have felt the impact the most, as they have bigger houses and cars.

Resent reports have concentrated on claiming that so-called middle-class inflation is nearer 10% than the two officially measured annual inflation rates of 2.4% and 3.3% on the consumer price index (CPI) and retail price index (RPI) respectively, because of things such as rising energy prices, school and university fees and council tax.

But the new research shows that the rise in general inflation caused by oil prices has primarily affected the poorest third of the population because they spend a greater proportion of their income on energy than the better off.
 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
OFT challenges overdraft charges

The Office of Fair Trading (OFT) has lined up an investigation into the charges banks levy on overdraft charges. 

Close