Household purchasing power recovers after a dip — inflation troubles everyone this year
Representative Households 2022–2024
The Labour Institute for Economic Research LABORE tracks the development of income, taxes, tax-like payments, and purchasing power for seven fictitious households in the example household calculations accompanying the autumn economic forecast.
The purchasing power of all households weakens in 2022, but developments vary significantly. The high-income family recovers best by 2024. The salaried employee family suffers the most due to rising interest rates — it is the only family whose purchasing power also weakens in 2023. Households living in rented accommodation fare better than owner-occupiers, as the costs of owner-occupied housing rose faster than rents. The purchasing power of the single-parent family fluctuates the least, the pensioner couple’s decline is the sharpest but turns around with index increases in 2023. The purchasing power of the unemployed person receiving earnings-related benefit grows the most. (AI translation)
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