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Are we in an affordability crisis?

Wage growth in many countries has outpaced inflation. So where is the anxiety coming from?

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    • Surveys show that people expect higher inflation than what official data or forecasts say, with grocery and energy prices shaping these views disproportionately. 
    • Surveys show that people expect higher inflation than what official data or forecasts say, with grocery and energy prices shaping these views disproportionately.  PHOTO: REUTERS

    Liang Zixuan &

    Mukund Kishore

    Published Wed, Jun 3, 2026 · 06:00 PM

    “FAMILIES are hurting, people are angry,” warned International Monetary Fund managing director Kristalina Georgieva.

    Yet, European Central Bank president Christine Lagarde pointed out that real wages in many economies have recovered to, or even surpassed, pre-pandemic levels. 

    Both statements can be true. And together, they trigger today’s affordability debate. 

    Inflationenergy pricesFood pricesInequality

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