16 April 2008
Older people have experienced the hardest impact of high inflation in terms of energy and food prices, it has been suggested this week.
Consumers over the age of 75 are battling against an inflation rate of 3.4%, the Alliance Trust noted, which is above the official headline figure of 2.5%, reports easier.
Broken down, the firm contended, prices of utilities jumped by 4%, while petrol charges were hiked by 20% and food prices by 6%.
Head of the Alliance Trust Research Centre Shona Dobbie remarked that these people are struggling to pay for basic services and that everyday products are much more expensive than official statistics hint.
"We see little respite from this situation over the next couple of months as the oil price remains high and some categories of food are beginning to experience shortages on a global basis," she observed.
The price of oil has this week steadied at $113.59 (£57.50) a barrel after peaking at a new record, reports the BBC.
© 2008 Adfero Ltd
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