Income vs. inflation

• Only 1 in 10 residents saw an increase that was in line with or above inflation
• This means that 89% of residents have seen an actual or equivalent reduction in their income in relation to recent inflation levels (currently more than 10%, November 2022)

This chart shows that:
For 4% of residents, their income/earnings in the last 12 months has increased above inflation
For 7% of residents, their income/earnings in the last 12 months has increased in line with inflation
For 37% of residents, their income/earnings in the last 12 months has increased but not in line with inflation
For 37% of residents, their income/earnings in the last 12 months has stayed the same
For 15% of residents, their income/earnings in the last 12 months has reduced

Age

Younger residents are the most likely to have received an increase in their income/ earnings either in line with inflation (16-34 year olds), or above inflation (for those aged 25-34)

Disability

Over half of residents without a disability have seen an increase in their income/ earnings whilst the equivalent figure is just 33% for residents with a disability

Household income

There is a clear correlation between household income and income/ earnings increasing; the more affluent a household is the more likely it is to have seen a favourable increase in income/ earnings