The UK's retired population is being hit harder than ever by rising inflation, according to the Alliance Trust Research Centre's monthly alert, based on its ongoing ‘Inflation and Age' study.
The latest age-related inflation figures show that the over 75s now face an actual inflation rate of 3.7%, up from 3.5% in the previous month. This was the only age group to record an increase in inflation over the month. The rate of inflation facing the over 75s is now at its highest level since Alliance Trust Research Centre’s study began in January 2003. In July, the over 75s were hit by ongoing increases in the cost of both gas and electricity, plus a substantial increase in the cost of health insurance. Shona Dobbie, head of the Alliance Trust Research Centre, said: “With the cost...
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