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Most low-income households spend a disproportionate amount of their already measly incomes on food. It gets even worse in urban areas because they also have to spend quite heavily on transport. And as we know, the prices of food and transport have been rising over the last few years. Unlike wealthy people, the poor have no assets such as savings, shares or property to shield themselves against the ravage caused by inflation. They only have little cash whose value is eroded by inflation. Although some are on fixed incomes such as wages and salaries they too bear the full brunt of inflation. The pensioners are not faring better. All these groups continue to see the purchasing power of their cash diminish.

Read more at: https://sundaystandard.info/here-is-why-the-new-government-needs-to-train-its-sights-on-inflation/

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