Analysts at Retail Economics found that the UK’s least affluent households have almost £40 a month less spare cash than they did a year ago while the richest have gained a similar sum in the same period.
The differing fortunes recorded on its cost of living tracker reflect a higher rate of inflation of 16.5% for those at the bottom end of the income scale, who spend two-thirds of their income on essentials such as food and energy, compared with 13.3% for those at the top, who spend just under half.
The wealthiest 20% of households had £36 a month more in discretionary income in December compared with a year before, as they enjoyed record earnings growth which offset rising energy and food bills.
Richard Lim, the chief executive of Retail Economics, said: “...the wealthiest are actually seeing their discretionary spending power rise on the back of record earnings growth, while the least affluent see their spare cash eroded by inflation..."
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