Inflation and rising unemployment bite hard at middle class families

New research has shown that middle class families have seen their savings fall by around £2,000 over the last three months alone. The research by the bank, ING Direct, shows that the twin threats of rising inflation and higher unemployment are causing middle class families to see a sharp decline in their savings. Harder hit The research, part of ING Direct’s quarterly Consumer Savings Monitor also shows that middle income families are being hit the hardest by current levels of inflation, despite the drop reported earlier this week, because they spend disproportionately more of their income on energy, petrol and food, which have ...