by Simon Constable
Forbes
The recent inflationary surge is squeezing households, but not likely in the way you think. It’s hitting the wealthy disproportionately, new research shows.
Inflation peaked at 9.1% in June 2022, and has recently dropped to 3.4% in April, according to data collated by TradingEconomics. However, the inflation rate is still way higher than it was in the five years through 2020 when the Consumer Price index grew at a rate that hovered around 2% and sometimes went negative.
In many ways that stability was good for the economy. But the jump in inflation after the pandemic has hit everyone in the wallet, experts say. However, it’s also true some groups got hit harder than others.