Elderly inflation 'hits six-year high'

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Elderly inflation 'hits six-year high'

The rate of inflation for elderly people has reached a six-year peak of 7.8 per cent.

This is according to a study by Alliance Trust, which finds that those over 75 continue to be the hardest hit by the inflation rate.

Alliance Trust says that rises of nearly 50 per cent for gas and 30 per cent for electricity in the last year affect older people the most as the weather gets colder.

The only age group to have an inflation rate less than the official level is the under 30s.

As well as increases in gas and electricity, the elderly are hit by high food prices, which, despite falling in September, are still nearly 13 per cent higher than they were a year ago.

In September, Alliance Trust reported that retirement confidence had reached a new low, with those aged 30 to 50 the least certain about their ability to fund their post-working lives.

ADNFCR-323-ID-18827209-ADNFCR

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