South Korea’s middle class experienced a heavier burden from the country’s steep inflation in 2022 compared with the lower- and upper-income brackets, data showed Friday.<\/p>\n<\/p>\n
According to an experimental report released by Statistics Korea, the on-year rise in consumer prices for the middle class came to 5.2 percent in 2022, slightly above the nationwide increase of 5.1 percent.<\/p>\n<\/p>\n
The agency noted the data, compiled for the first time, is not considered an official government report but was released for testing purposes.<\/p>\n<\/p>\n
In contrast, the lower 20 percent experienced an inflation rate of 5.1 percent, aligning with the national average.<\/p>\n<\/p>\n
The data also revealed that the highest 20 percent faced an inflation rate of 5 percent, suggesting they bore a relatively lighter burden from inflation.<\/p>\n<\/p>\n
In terms of households, inflation reached 5.3 percent among those headed by individuals aged 60 and above, slightly surpassing the average.<\/p>\n<\/p>\n
In contrast, households led by individuals aged 39 and below experienced an inflation rate of 4.9 percent, suggesting that younger generations were comparatively less impacted by consumer price hikes.<\/p>\n<\/p>\n
The rise in consumer prices for single-member households came to 4.8 percent on-year in 2022, staying below the 5.1 percent growth posted by those with more than two people.<\/p>\n<\/p>\n<\/p>\n
Source: Yonhap News Agency<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
South Korea’s middle class experienced a heavier burden from the country’s steep inflation in 2022 compared with the lower- and upper-income brackets, data showed Friday.According to an experimental report released by Statistics Korea, the on-year ris…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"yoast_head":"\n