How much has average household income increased? It hasn't!

Download the full pdf here

Explaining the data:

Here we have used Institute of Fiscal Studies data from http://www.ifs.org.uk/publications/6759 (using the downoadable spreadsheet, using the Before Housing Costs series equivalised for household size, comparing 2011/12 with 2001/2). As the report makes clear, different inflation measures show slightly different trends – and while the RPI (as used here) shows slower rises in standards of living than other measures like the CPI, an inflation measure based around a minimum acceptable standard of living may be even higher (see http://www.jrf.org.uk/publications/MIS-2013).

Visit Inequality Briefing

*******