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Inflation rate for elderly drops, but still well above national rate
New figures show that the inflation rate affecting those over 75 fell to 3.6 per cent last month from 3.9 per cent, but remained 64 per cent higher than the official rate of inflation of 2.2 per cent.
The figures from Alliance Trust Research Centre show there is a gulf between the inflation rates facing the elderly and the young, with the elderly facing a rate 71 per cent higher than 30-year-olds.
Despite a fall in electricity prices and stable gas prices, the price of petrol and food increased.
Basic goods inflation, which affects the elderly the most as they spend the highest proportion of income on food and utilities, is high at 4.6 per cent, while the headline rate of inflation fell by less than expected to 2.2 per cent.
Shona Dobbie, head of the Alliance Trust Research Centre, said, "Although it is good to see the inflationary pressures facing the elderly continue to recede, the rate of inflation facing this age group remains persistently high."
A report last week from the Environment, Food and Rural Affairs Committee called for the government to instigate an action plan as a matter of urgency to help the millions of UK households in fuel poverty as a result of fuel price rises.