Department of Statistics (DOS) has just disclosed that the inflation for 2011 is 5.2% in 2011. This is a three-year high, driven by higher costs of owning a car and higher rental.
The top 20% of household income earners are worst hit by inflation, with 5.7% inflation, whereas the bottom 20% household income earners are affected by 5.2% inflation.
As more than 87% of our population own their homes in 2010, if the imputed rentals on owner-occupied accommodation is taken out, the overall inflation is reduced to 4.2%, with the top 20% household income hit by 5.1%, while the bottom 20% household suffered only 2.2%.
If the private transport and accommodation are ignored, the overall inflation rate is only 2.2%!