You are here: Home - Household Bills - News -

Poorest hurt most by fuel price surge

Written by:

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.

Related Posts


Tag Box

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.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

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...

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...

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.