The recent decline in inflation has done little to improve the financial situation of half of the public, who say they are worse off now than a year ago. This is according to a new survey conducted by an independent research firm.
The survey found that despite inflation dropping from its high point last year, it still remains at levels higher than many people would like and this has had an impact on their finances. The majority of those surveyed said that rising costs for food and other necessities were eating into their income more so than before, leaving them with less money each month after paying bills and buying groceries.
This problem is further compounded by stagnant wages which have not kept pace with inflation over the past few years meaning even when prices do go down slightly there’s no extra money available for people to take advantage of lower prices or save up for future purchases.
It appears then that while some may be benefiting from falling inflation rates due to increased purchasing power, many others are still feeling left behind as they struggle financially just as much if not more so then before because wages haven’t risen in line with prices making it difficult for them make ends meet every month without going into debt or relying on credit cards just to get through until payday arrives again.
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