WHO BEARS THE BURDEN OF INFLATION? A COMPARATIVE ANALYSIS OF THE DISTRIBUTIONAL EFFECTS OF INFLATION ACROSS INCOME GROUPS IN CENTRAL ASIA

Opis

Inflation remains one of the most significant macroeconomic challenges affecting developing and emerging economies. While moderate inflation may facilitate economic growth and adjustment processes, persistent increases in consumer prices often generate unequal welfare consequences across different socioeconomic groups. This study investigates whether inflation disproportionately affects low-income households relative to high-income households in the five Central Asian economies: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The paper examines the distributional consequences of inflation through the channels of consumption structure, labor income, asset ownership, and access to financial instruments. Using comparative macroeconomic analysis and evidence from international institutions, the study demonstrates that inflation imposes a significantly larger burden on poor households because food, housing, and utility expenditures constitute a larger share of their consumption baskets. In contrast, wealthier households are better positioned to protect their purchasing power through asset diversification, financial investments, and ownership of inflation-hedging…

Opis sa Zenodo, skraćen.

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