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....