Self-employed and pensioners hit hardest by spending power drop

Family spending power fell an average 0.5% last year, the biggest drop since 1985 when spending power developments were first officially researched, the national statistics office CBS said on Monday.


Freelancers and the self-employed were hardest hit, with a 1.4% cut in spending power. Pensioners had 0.8% less to spend as corporate pensions were frozen or cut.
People on permanent contracts and living from social security did not see a reduction in their spending power as wages and benefits rose in line with inflation.
Spending power has not risen on an annual basis just once before, in 2005, the CBS said

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