The rate of inflation facing the over-75s fell from 3.4% to 3.1% in June but it remains higher than the inflation rates facing other age groups, according to data from Alliance Trust, the financial services group.
A statement from Alliance Trust says it maintains its call for pensions linked to the rise in retired cost of living. Inflation higher than 3% has consistently hit elderly headed households since May 2006 and peaked in April this year at 4.75%. The data shows the inflation rate facing the age group is still 29% higher despite the official rate of headline inflation falling back to 2.4% in June. The inflation rates facing all age groups have declined for a third consecutive month as gas prices fell by almost 3% and electricity prices fell by more than1%. The research also found energy c...
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