We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

Large cost-of-living gap between rich and poor households persists, think tank warns

24 Jan 2023

Think tank the Resolution Foundation has found that a large cost-of-living gap between rich and poor households remains despite inflation continuing to ease.

In response to data published by the Office for National Statistics (ONS), the Foundation stated that whilst inflation eased towards the end of 2022, it remains particularly high for low income households who 'fall on the wrong side of a large cost-of-living gap'.

It branded an acceleration in food price inflation in December as 'worrying', and said that inflation will need to fall back this year to help ease the pressure on low income families.

Research carried out by the Resolution Foundation revealed that the poorest tenth of households experienced an average inflation rate of 11.9%, compared to 9.2% for the richest tenth of households.

Commenting on the findings, Jack Leslie, Senior Economist at the Resolution Foundation, said: 'Inflation looks to have peaked last October as it continued to ease at the end of last year. The speed at which inflation falls in 2023 will help to determine the duration of the cost-of-living crisis.

'Inflation remains particularly high for low income families who are on the wrong side of a large cost-of-living gap due to the high cost of energy bills and food.'


Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more


B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2023 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.