19 March 2008
A new study released by Alliance Trust has found that five different age groups have been hit by rising inflation and energy prices.
But older people are more likely to be hit hardest by inflation, the report stated, as the rate for the over-75s stands at 3.4%.
Moreover, those in the 65 to 74-year-old bracket also face inflation levels of 3.3%, way over the headline rate of 2.5%, it suggested.
In comparison, Alliance Trust remarked, the under-30s saw a level of 2.7%, which is still higher than official government figures.
Head of the Alliance Trust research centre Shona Dobbie noted the prevailing trends.
"Recent increases in both gas and electricity prices could push headline inflation even higher in the coming months. This is a problem for all age groups," she commented.
She added that all people have to buy basic provisions on a regular basis and this magnifies the impact of inflation.
Earlier this week, analysts including Investec's Philip Shaw correctly predicted that inflation levels would rise.
© 2008 Adfero Ltd
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