Renters and younger people hit harder by inflation

The Irish Times · Irlanda · Prensahace 1 día

Households led by younger people and those who are renting their homes are experiencing higher levels of inflation, new research indicates. Central Statistics Office (CSO) figures show households headed by a person aged under 35 experienced an inflation rate of 4.4 per cent in September, “the highest of all the categories examined”.

The headline rate for the country as a whole in September was 4.1 per cent. Households renting were also found to be experiencing a higher rate of inflation, estimated at 4.3 per cent compared with a rate of 4.1 per cent for households paying a mortgage, while it was 3.7 per cent for households that owned their home outright.

The disparity in how households experience inflation stems from the fact that lower-income households spend a higher proportion of their income on energy and rent.“Each household has its own unique consumption pattern of goods and services and therefore its own personal experience…

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