The Real Challenge is Taming Inflation Fast
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Inflation, which is the equivalent of a regressive tax on the poor, accentuates income inequality to make the situation worse.
Inflation is now a problem to be reckoned with. And the poor are bearing the brunt of it. Such inflation could be political dynamite if left untamed. Already, the latest assessment of the Household Income and Expenditure Survey (HIES 2022) showed a significant rise in income inequality, with the Gini coefficient rising to 0.49 in 2022, against 0.45 in 2010, and 0.35 in 1990. Inflation, which is the equivalent of a regressive tax on the poor, accentuates income inequality to make the situation worse.
