Rising fuel bills driving inflation among elderly people - 15/12/2011
Many older individuals may feel the need to perform an energy comparison in order to find a cheap gas deal, as rising fuel bills are still a serious issue for this group.
This is according to Alliance Trust Savings, which found high gas and electricity prices are one of the main drivers of inflation among this age group.
Senior economic analyst at the organisation Linsey Thomson said: "In particular, it is the elderly households which continue to suffer the highest rates of inflation due to electricity and gas price increases impacting these households disproportionately."
Although overall rates for people aged between 65 and 74 fell to 5.6 per cent in November, down from 5.8 per cent in October, costs for energy continue to rise.
Gas inflation rose to 25 per cent last month, while the figure for electricity also climbed to 16 per cent.
Recently, it was noted by chartered financial planner at Edinburgh Wealth Management Michael Garvey that as older people spent a larger portion of their time at home, they are likely to use more fuel to stay warm this winter.
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