Personal Finance
Low-income Groups Are the Most Affected by Rising Prices Despite What Percentages Say
By Seedly  •  January 27, 2022
Source: The Straits Times So I read this article from The Straits Times, and based on what they said, the lowest income group is least affected by inflation. But something definitely didn’t feel right… Source: Make A Gif Based on what I have read from the article, they claim that low-income groups are affected the least by the rising Consumer Price Index (CPI). According to the numbers published, that seems to be the case. However, it certainly doesn’t feel fair to say that the low-income groups are least affected. Let’s break it down in this article! TL;DR: How the CPI Increase Is Affecting the High and Low-income Groups At first glance, it may seem like the low-income group is affected less by the CPI increase based on the percentages. However, as we look deeper, we found that the low-income group is more affected by the increase than the high-income group....
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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