Middle classes are twice as rich as a decade ago

Middle-class families may bemoan the cost of living, but relatively speaking, they are twice as rich as a decade ago, new research showed yesterday. Their earnings rose at more than twice the rate of increases in their rate of inflation, according to Halifax Financial Services. Their income jumped by 42.8 per cent since 1997 to an average of [pound]35,875, while their living costs rose by 18.2 per cent over the same period.

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