España | El impacto heterogéneo de la inflación en los balances de los hogares

Summary

Este estudio examina cómo la inflación en 2021 afectó la desigualdad de la riqueza en España a través de tres canales: el canal tradicional de la riqueza, el canal del ingreso y el canal del consumo relativo. Los canales de riqueza e ingresos tuvieron un impacto mucho mayor que el canal de consumo relativo.

Key points

• Key points:
• Due to varying spending patterns on goods like food and energy, which witnessed the largest price increases, the relative consumption channel had a negative effect on people under the age of 55 and a beneficial effect especially on people over 65.
• The combination of inflation's effects on real debt burden, less spending capacity, and unequal price increases across sectors led to a notable loss in wealth for older people in the lowest income quartile.

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