Inflation remains high for the elderly

News Category: Industry News

This article was brought to you by Rentman the premium property management system.

Every age group has faced a slight increase in the rate of inflation this month, according to an independent report.

A study conducted for the Alliance Trust has found that 65 to 74 year olds suffered the biggest increase in inflation, while over 75s and the under 30s, who are struggling to pay landlords, still faced the highest rates of inflation.

In comparison to the headline inflation rate of 1.8 per cent, the over 75s continue to suffer the highest rate of inflation at 2.2 per cent.

Shona Dobbie, head of the Alliance Trust Research Centre said: "Our study continues to highlight the extent to which inflation hits different age groups. Throughout the entire course of our four year study, the elderly have consistently suffered the highest levels of inflation.

"We are also becoming concerned about the more recent trend of young adults also facing inflation which is significantly higher than the headline rate, largely due to higher rents and education costs, as well as the costs of basic goods."

High inflation rates have meant many are put off purchasing property and opt to rent using letting agents instead.

Buy letting agent software that works.