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Wednesday, August 17, 2011

65-74 year olds face highest rate of inflation - yet again

Alliance Trust publishes a report that shows the rate of UK inflation experienced by different age groups.

The 65-74 year old age group continues to suffer the highest rate of inflation, at 5.1%, above the official headline rate of 4.4%.

Food price inflation slowed from 6.5% to 5.8%, alleviating some pressure on the spending budgets of the elderly households. However, recently announced gas and electricity price hikes could be expected to push inflation rates for the elderly higher in the coming months.

The under 30s continue to face one of the lowest rates of inflation.

I hate saying - I told you so - but I have been bleating on about the way that inflation is a massive tax on older people and especially on the older-old. Where goeth inflation goeth a reduction in consumption. Dick Stroud

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