So on this analysis, there is little sign of the so-called squeezed middle.
That is surrender to the same status quo that has squeezed middle-class families for way too long.
Deputy Matt Fallaize said it would cost many of the "squeezed middle" thousands of pounds a year.
But there may still be some relief for hard pressed families, with the Chancellor expected to offer some help for the so-called "squeezed middle".
Trying to tap into popular discontent, especially among the squeezed middle class, Labour has focussed its campaign almost exclusively on social and economic reform.
He argued the cost of benefits was "increasingly stoking social division" among the "squeezed middle, who feel resentment at the 'handouts' given to the long-term unemployed".
He will talk much of what he calls the "squeezed middle", the low and middle-income families feeling the pain of lower living standards and job insecurity as the economy stagnates.
Labour leader Ed Miliband, whose phrase "squeezed middle" - referring to those hit hardest by falling living standards - was word of the year in 2011, made the first recorded use of omnishambles in the House of Commons in April.
The IFS figures are yet another example of the tough times for people in the "squeezed middle" - with median incomes falling by 7%, says the IFS, after inflation has been taken into account, the sharpest drop in 35 years.
Labour's intention was to ease the pressure on the squeezed middle, and also generate the idea of the British promise, the thinking being the next generation of youngsters should do better than their parents - but there were still a lot of questions around the policy, our correspondent added.
"They're getting squeezed in the middle, " says analyst Jon Peddie of Nvidia.
Sales both at the top and bottom of the consumer market are rapidly growing while sales are being squeezed hard in the middle, though it is still the largest market segment in rich countries.
Mandates have been hard-fought, with the middle market getting squeezed at both ends.
The West is doomed to a long period of austerity, as the middle class is squeezed and governments curb spending.
The rich are getting richer and the poor are getting poorer, and the hapless middle class is squeezed in between.
We worried about people running up massive debts to buy things they could not really afford, and talked, even then about the middle class being squeezed.
"What is going to happen is lower and lower-middle income families squeezed out of downtown and glamorous suburban locations are going to be pushed economically into these McMansions at the suburban fringe, " said Nelson.
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He mentioned the middle class and he mentioned that the middle class was being squeezed.
He said the poorest would bear a greater burden from the spending cuts than the richest, that "the middle" would be squeezed further and women would shoulder three quarters of the cuts - questioning whether the review was "progressive or fair".
The typical two-parent family worked 26 percent more hours in 2010 than in 1975 but the middle class still feels incredibly squeezed.
In addition to that, I believe we have a crisis here at home, a crisis of the middle class that is increasingly squeezed.
But his plain-talking style, his popularity among the middle classes who feel their pockets squeezed and his frequent spats with President Jacques Chirac have all let him project an image that sets him apart from the elite.
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The problem is that the middle class, long before the recession hit, was seeing itself squeezed -- incomes flat or near flat and a lot of prices rising.
The company has been struggling for more than a year amid continued economic uncertainty in Europe and the disruption to holiday travel caused by political upheaval in North Africa and the Middle East which has weighed on the company's trading and squeezed margins.
Basically what I see as the middle class of Zimbabwe, be it black, white, whatever racial denomination was, it has been squeezed out.
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