Poor people and pensioners have suffered a higher rate of inflation than the rich over the past decade, according to research from the Institute for Fiscal Studies (IFS).

The IFS said the disparity has been particularly pronounced since the beginning of the recession in 2008.

The thinktank’s analysis of inflation data showed that the poorest fifth of households had faced an inflation rate of 4.3% between 2008 and 2010, while the richest 20% only had a rate of 2.7%.

Rocketing food and energy prices have had a greater effect on poorer households as they spend a greater proportion of their income on essentials, while the rich have benefitted from low interest rates on their mortgages.

The poorest fifth of households spent 9.4% of their incomes on household fuel in 2009, while the richest 20% spent just 4.4%.

Pensioners have been particularly badly hit with data showing they are currently experiencing inflation of 4.6%, 0.1% above the Consumer Price Index (CPI).

The IFS predicted that rising fuel and food prices could see the situation worsen for the poor in the short to medium-term.

An IFS spokesperson said: “Our modelling suggests that the average household in the poorest fifth of the population will reduce fuel consumption by 6% in the face of a 10% fuel price increase.

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The main challenge facing Brazil’s composites industry is the issue of recycling, Brazilian association of composite materials Abmaco president, Gilmar Lima, told BNamericas.

Last year, the association created a program in conjunction with the national institute for technological research (IPT) to develop tools to ensure the reuse of composite waste in the production process.

The program is being funded by 19 companies, with a large part of investments being channeled into research and the acquisition of a recycling pilot laboratory. The program is expected to take 20 months to implement.

“With support from Abmaco’s technical team, IPT classifies the particles that comprise composite waste, and then looks at the best way to reuse them. After that, the solutions developed can be commercially exploited by companies in the program,” Lima said.

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The carrier said the deals, which have been approved by its board of directors, would enable it to grow profits and be among the top three leading airlines in Asia in terms of quality and service efficiency.

The airline plans to buy six Boeing 777-300ER planes, four Airbus A350-900s and five A320-200s for a total of about US$1.6 billion, for delivery between 2014 and 2017.

It will also lease 22 aircraft, including eight Boeing 787 Dreamliners, to be delivered between 2012 and 2017, a company statement said.

The company is bouncing back after a tough spell that saw it sink 21.3 billion baht in the red in 2008 owing to the global financial crisis, high fuel costs and political protests that temporarily shut Bangkok’s airports.

The carrier posted a net profit of 1.6 billion baht in 2010, up more than threefold compared with 2009 as revenue more than doubled.

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Consumer advocate Choice is supporting Financial Planning Week but has continued its attack on commission payments.

It is telling consumers to avoid commissions that “eat into the bottom line of somebody’s financial well-being”, Choice Campaigns Director Christopher Zinn said.

“It’s very tempting for someone to avoid up-front financial advice charges, thereby letting less obvious ongoing fees and charges take care of the cost,” he said. 

“We believe that’s a false economy.”

Mr Zinn says the proposed Future of Financial Advice reforms also ensure the adviser must act in the client’s best interests.

“Those working in the financial planning industry should accept that true professionals do not have conflicts of interest that adversely affect their clients,” he said.

“We want the industry to respond to consumer demand for impartial strategic advice. This opens a whole new mar

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