The latest release of estimates from the Distributions of Household Economic Accounts reveals that, despite broad-based increases in wages and salaries, income inequality increased in the first quarter of 2022 relative to the same quarter a year earlier. This increase was partly attributable to the expiry of pandemic-related government benefits had a larger impact on households in lower-income quintiles and younger age groups. Meanwhile, average net saving decreased for households in each distribution category, as inflationary pressures weighed on consumption.
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