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Rising grocery and oil prices are impacting the low income earners most severely, but are also likely to impact expatriate purchasing power.
Lower income earners spend a larger percentage of their income on groceries and transport. The world’s poorest consumers spend a large proportion of their income, around 50 to 70 percent, on food and have limited capacity to adjust quickly to rapid price increases. In places like Egypt, Tunisia and Libya this has contributed to political unrest. At the expatriate level the impact will also be felt as up to 16% of their income is spent on groceries and 18% on transport. Continue reading