Housing drives pensioner inflation to 34%

In the third part of its pensions report, the insurer says in the last year alone inflation on goods and services bought by pensioners rose by 3.9%, with housing costs accounting for the almost half the rise, having seen increases of 73% over the last decade. The main driving force behind the increase in housing costs, and therefore inflation, have been council tax and repairs and maintenance, with housing acting as the largest single expense facing pensioners. According to Clerical Medical, on average 25% of a pensioner’s expenditure - around £55.79 a week - is spent on housing, which ...