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2022: Econ - Application > Inflation and Living Standards > Flashcards

Inflation and Living Standards Flashcards

1
Q

CPI

A
  • April 2022 - 9%
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2
Q

Wage growth

A

7% - but CPI is 9% - negative real wages

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3
Q

Real income per capita

A

£33,000 in 2020 - a large fall from 2019

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4
Q

Mean disposable income

A

£36,000 in 2020-21

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5
Q

Median disposable income

A

£30,000 in 2020-21

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6
Q

Average disposable income per household in the UK 2020 by DECILE GROUP - top and bottom groups?

A

Bottom: 10,884
9th: 20,849

2nd: 66,683
Top: 126,778

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7
Q

Gini coefficient

A

0.363 - prior to Covid: 0.34

Increase in inequality in UK

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2022: Econ - Application (5 decks)

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