The real value of incomes fell in 2022, according to data published by Statistics Finland on Tuesday. The drop occurred across all income levels.
Number crunchers said that the lowest-income groups saw a fall of 4.1 percent in their buying power, while higher-income groups saw a drop of 5.9 percent.
On average incomes fell by 3.8 percent, even though the employment situation was good and nominal wages did rise.
Would you like a roundup of the week's top stories in your inbox every Thursday? Then sign up to receive our weekly email.
There were some 730,800 people living in low-income households in 2022, according to the statistics agency. That corresponds to some 13.8 percent of the population.
Statistics Finland said that inflation ate away at those increases in wages and social security benefits, however, leaving the value of incomes reduced from previous levels.
In December 2022 the Consumer Price Index showed an increase of 9.1 percent in prices compared to the previous year.
Users with an Yle ID can leave comments on our news stories. You can create your Yle ID via this link. Our guidelines on commenting and moderation are explained here.
