Super-rich take inflation hit

The Stonehage Affluent London Living Index (Salli), which tracks a basket of 50 luxury goods and services, shows inflation of 6% in the past 12 months, compared with an advance of 2.3% in the CPI. Family wealth management group Stonehage said the cost of a limited edition Patek Philippe Calatrava watch reached £19,000 in 2007, up 26.7% on a year earlier, while a top-of-the-range Range Rover, at £74,900, was 19.8% more expensive than a year ago. Giuseppe Ciucci, CEO of the Stonehage Group, said: “As suspected, the cost of living for ultra high net worth individuals is higher and is rising ...