Inflation on the rise for all age groups

Wednesday, November 18th 2009

Rates of inflation are increasing for all age groups, according to a new report.

Statistics from the Alliance Trust Research Centre show that while over-75s saw the lowest inflation rate - 1.7 per cent - for the first time in nearly two years in October, the 30 to 49 age group experienced the highest at two per cent.

According to official figures, the headline rate of inflation rose from 1.1 per cent to 1.5 per cent in October.

Shona Dobbie, head of the Alliance Trust Research Centre, said that the increases in inflation for all age groups had been expected.

She added: "The elderly are temporarily benefiting from the drop in gas and electricity prices and the youngest age group continues to benefit from the ongoing decline in prices for clothing and audiovisual goods."

Last month, the Alliance Trust released figures showing that consumers' financial wellbeing increased for the third quarter in a row in the three months to the end of September.