Household characteristics, Irish inflation and the cost of living

Reamonn Lydon ()

No 1/EL/22, Economic Letters from Central Bank of Ireland

Abstract: Lower income, older and rural households experienced relatively larger cost of living increases from higher inflation in recent months. This is because energy-related spending – both home heating/energy and transport – is a higher share of overall expenditure for these households, and higher energy prices are currently the main driver of inflation. Taking a longer-term perspective on inflation developments from 1998 to the present, I find little historic evidence of systematic differences in inflation experienced by lower and higher income households.

Date: 2022-02
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