{"id":94124,"date":"2022-06-22T13:48:30","date_gmt":"2022-06-22T13:48:30","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=94124"},"modified":"2022-06-22T13:48:30","modified_gmt":"2022-06-22T13:48:30","slug":"sls-average-household-income-makes-shocking-revelation-about-poverty-levelsls-average-household-income-makes-shocking-revelation-about-poverty-level","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/sls-average-household-income-makes-shocking-revelation-about-poverty-levelsls-average-household-income-makes-shocking-revelation-about-poverty-level\/","title":{"rendered":"SL\u2019s average household income makes shocking revelation about poverty level"},"content":{"rendered":"<header class=\"inner-h\">\n<h1 class=\"innerheader\" style=\"text-align: center;\"><span style=\"font-size: 24px; color: #000000;\">SL\u2019s average household income makes shocking revelation about poverty level<\/span><\/h1>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-94125\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2022\/06\/household-income-e1655905527798.jpg\" alt=\"household income\" width=\"600\" height=\"400\" \/><\/p>\n<p><strong><span style=\"font-size: 16px; color: #800080;\">Source:<\/span><\/strong><a style=\"color: #000000;\" href=\"https:\/\/www.dailymirror.lk\/business-news\/SLs-average-household-income-makes-shocking-revelation-about-poverty-level\/273-238959\" target=\"_blank\" rel=\"noopener noreferrer\">Dailymirror<\/a><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><strong>Poorest 40% families earn only Rs.26,931, not enough even to put 3 meals on their table at current prices\u00a0<\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Sri Lanka\u2019s average monthly household income was estimated at Rs. 76,414 prior to the country\u2019s economy fell deep into a recession and incomes deteriorated in the two years of the pandemic in 2020 and 2021, according to Department of Census and Statistics (DCS) data.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">While the average household income was over Rs.75, 000 and appeared attractive, this reflects the income for an average household comprising 3.7 people and there are also vast disparities between the three segments\u2014urban, rural and estate.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The latest Household Income and Expenditure Survey 2019 results published by the Department of Census and Statistics recently showed that while the average income of an urban household was at Rs.116,670, the rural family generated an average of Rs.69,517 which has become even weaker for an estate sector family at Rs.46,865.\u00a0<\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">While the results reflect the average income level when the country entered the pandemic, during the two years of the pandemic the country saw its incomes falling amid hyperinflation resulting in families losing 40 percent of the value of their nominal incomes within just one year through May 2022, based on the official consumer price indices.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The survey also found out that the poorest 20 percent of the households in Sri Lanka were generating only Rs.17,572 while the poorest 40 percent of the households generating Rs.26,931.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">However, the richest 20 percent of the households in Sri Lanka on average earn Rs.196,289 per\u00a0 month, which may have grown in the last two years in nominal terms, although their purchasing power fell sharply in the last six months due to double-digit inflation, which accelerated into runaway prices from March onwards.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Meanwhile, the middle 60 percent of the households generated an average monthly income of Rs.56, 079 for a family of 3.7 persons.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">This reflects how badly the living standards of 80 percent of the households in Sri Lanka have been affected while the bottom 40 percent may have been plunged into dire poverty due to inflation which acts as an insidious tax on people\u2019s incomes.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">However, inflation could help some people, provided they have the right attitude, to become more enterprising and productive to generate more income to a level which they can beat the price pressures in the medium term.\u00a0<\/span><\/p>\n<\/header>\n","protected":false},"excerpt":{"rendered":"<p>SL\u2019s average household income makes shocking revelation about poverty level Source:Dailymirror Poorest 40% families earn only Rs.26,931, not enough even to put 3 meals on their table at current prices\u00a0 Sri Lanka\u2019s average monthly household income was estimated at Rs. 76,414 prior to the country\u2019s economy fell deep into a recession and incomes deteriorated in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":94125,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[45218,45217],"class_list":{"0":"post-94124","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-department-of-census-and-statistics-recently","9":"tag-sri-lankas-average-monthly-household-income","10":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SL\u2019s average household income makes shocking revelation about poverty level<\/title>\n<meta name=\"description\" content=\"Sri Lanka\u2019s average monthly household income was estimated at Rs. 76,414 prior to the country\u2019s economy fell deep into a recession\" \/>\n<meta name=\"robots\" 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