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Inflation leaves over 55s on average £600 a year worse off
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PostPosted: Thu Nov 11, 2010 10:39 am 
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Location: Hampshire
Age UK Enterprises Silver RPI reveals true impact of price rises on those in later life

The cost of inflation on those in later life has been far greater than estimated by official measures according to the Silver RPI launched today by Age UK Enterprises*, the commercial services arm of charity Age UK, to coincide with the Bank of England Quarterly Inflation Report.

The Silver RPI shows that since the beginning of 2008, those aged over 55 have experienced price rises at almost two per cent above that suggested by headline RPI figures. This rises to four per cent above headline RPI for those over 75. The gap between real and headline inflation over that period has cost the average 60 year old £620 a year, rising to over £700 for someone aged between 65 and 69.

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