Inflation rate for elderly 'much higher than CPI'

The investment firm's monthly study of age-related inflation shows that in July, the inflation rate for over 75s stood at 2.8% - 56% higher than the official rate of inflation of 1.8%. Meanwhile, those between 65 and 75 years old face an inflation rate of 2.3%. Alliance Trust says retired households spend a higher proportion of their budgets on basic goods and services, such as utilities and food, where price inflation remains relatively high. During the month, gas prices fell 0.4%, electricity prices were unchanged and food prices fell back 0.6%, but the recent surge in the oil pr...