British household income inequality increases in 2018:ONS

Source: Xinhua| 2019-02-27 01:32:31|Editor: yan
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LONDON, Feb. 26 (Xinhua) -- British household income inequality increased in the financial year ending 2018, with the rich getting richer, the poor getting poorer, according to survey published Tuesday by the Office for National Statistics(ONS).

Statistics showed the average income of the poorest fifth of the population contracted by 1.6 percent, mainly driven by fall in the value of cash benefits.

On the other hand, the average income of the richest fifth increased by 4.7 percent due largely to increases in earnings from employment.

Based on estimates from living costs and food survey, British median household disposable income was 28,400 pounds in 2018, rising by an average of 2.2 percent a year since 2013.

Dominic Webber, head of household income and expenditure analysis for ONS, said:"While our report highlights a contraction in average income for the poorest fifth of the population, the longer-term trend has seen this group's income rise the most. As such it may be too early to draw definite conclusions from this specific downtick.

"Those in the richest fifth have seen a greater change, as well as a sustained rise over a number of years, which has helped to drive an increase in inequality."Webber added. (1 British pound = 1.32 U.S. dollars)

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