The impact of wealth inequality on inflation and unfair competition among consumers

Abstract This study examines unfair competition among consumers according to wealth groups. The study hypothesizes that consumer groups with high income and wealth levels have a competitive advantage over consumer groups with low income and wealth levels, and therefore wealth inequality may create upward pressure on prices. Data from 37 Organisation for Economic Co‐operation and Development member countries covering 2000–2022 were used in the analysis. According to the results of the analysis, increases in the wealth of high‐wealth groups increase the inflation rate more severely.