29 January 2009
Elderly people in the UK are experiencing a significantly higher rate of inflation that their younger counterparts, it has been suggested.
According to the Alliance Trust Research Centre, the inflation rate gap between young and old is continuing to widen, putting the personal finances of those aged 75 and above under increasing strain - potentially meaning they may be at risk of debt problems.
Figures cited by the organisation suggest that while the rate of inflation for consumers under the age of 30 is 2.7 per cent, those aged 75 and over are experiencing a rate of 5.9 per cent.
Head of the Alliance Trust Research Centre Shona Dobbie said: "This relatively high level of inflation facing the elderly is particularly worrying during the cold winter months as high gas, electricity and food prices leave elderly households with less money to spend elsewhere."
A self-managed investment company, Alliance Trust has roots tracing back to 1888.
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