Inflation hurts poorest most
The poorest 10% of households would have had to increase their spending by more than 16% to keep food and energy consumption constant between 2019 and February 2024. The same figure for the richest 10% is under 6%.
The calculation is the result of research carried out by Georgia Kaplanoglou, a professor at the Department of Economic Sciences of the University of Athens, on the impact of inflation on the household budget.
Her study confirms the truth everyone already knows, namely, that inflation weighs much more heavily on the poorest than on the richest, exacerbating inequality. This reality is mitigated but not negated by the bonus policy of vouchers, such as the Food Pass. According to Kaplanoglou’s calculations, the Food Pass corresponded to 52 euros per month for the six months in total given in 2023, while a family with two children in the middle of the income distribution would need about €1,500 per year (or €125 per month) to keep food consumption stable.
She cites recent studies, showing that consumers are cutting the quantities they buy, turning to food of low nutritional value and shopping based on price rather than quality.
