Rising Costs Of Living

Question 1

Rising cost of living:

Question 2

KU: what inflation is

Answer 2

how it’s only a problem when wages don’t go up at the same rate as inflation. Means that when wages fall people will struggle and not be able to afford basic things.

Question 3

A: important because poorer families spend most of their money on food and energy

Answer 3

so they’re more affected by the price increases in those areas.

Question 4

KU: the IFS says that the poorest tenth of households spend about 3x as much of their budgets on on food and energy compared to the richest tenth. This means that the rising cost of essential items will effect people with a lower income a lot more.

Question 5

A: important because as food prices rise people who already struggle are put into even more difficult situations and will find it harder to spend money on essentials and bills

Question 6

E: it’s been happening for quite a few years now so families who would usually be fine with buying things are now starting to really struggle. And even though inflation and the cost of living will effect people everywhere

Answer 6

it’ll mostly be people who were already struggling who will be most effected and pushed into absolute poverty.