UK Money News
17th June 2008
Inflation over 4% for pensioners
Pensioners are feeling the impact of higher prices for day to day living significantly harder than the rest of the population, a new study has shown.
Research conducted by Alliance Trust found that 50-64 year olds and 65-74 year olds now also face inflation rates of more than four per cent.
Meanwhile, over 75s are even worse hit and are being subject to a rate of inflation of 4.8 per cent.
This is some 45 per cent higher than the official rate of 3.3 per cent, which the firm calculates only applies to those under 30 years of age.
Shona Dobbie, head of the Alliance Trust Research Centre, said: "Our study continues to highlight the extent to which inflationary pressures are hitting the elderly hardest.
"Food prices are now rising at a general rate of nine per cent, but in the case of some basic food groups, such as dairy products, inflation is running as high as 17 per cent. This affects the elderly in particular, as these households spend a higher proportion of their budgets on the more basic food items."
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