Middle-class earning growth doubles inflation
According to Halifax Financial Services, growth in wages among the well-off has grown by more than double the rate of inflation in the middle-class over the last decade. Since 1997, wages among the middle class have grown at a rate of 42.8%. By comparison, the rate of middle-class inflation was 18.2%.
This represents a quicker rate than that experienced by the average worker, whose wages have increased by 39.5% over the last 10 years. A spokesperson for Halifax Financial Services commented that the affluent classes have seen their wages rise by more than double the increase in prices over the last 10 years. They are also better off compared to the average household.
According to the figures by Halifax Financial Services Growth, the affluent class is the top 20% per cent of earners.