Over 50s 'seeing limited benefits from falling inflation'

Over 50s may still be suffering from increased inflationary pressures despite an overall drop in inflation, according to new research.

Statistics published by Alliance Trust have revealed that although the national inflation rate fell to 1.8 per cent in June, those aged over 64 are still being hit harder than others, with over 75s facing a rate of 2.8 per cent.

The investment trust suggested that this is due to older people spending proportionately more on basic goods and services such as food and utilities, the areas in which inflation rates remain the highest.

Shona Dobbie, head of the Alliance Trust research centre, said: "Although it is encouraging to see the inflationary pressures facing the elderly start to recede, the rate of inflation facing this age group remains persistently higher than for any of the other age groups."

Earlier this week, research from retirement solutions group MGM Advantage revealed that the average yearly expenditure of homeowners aged between 65 and 74 increased by 22.49 per cent between 2002 and 2007, compared to a national average of 15.91 per cent.

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