PENSIONERS have seen housing and living costs soar by more than a third during the past ten years, new research showed today.
The rate at which the cost of living for pensioners is rising outstrips increases in Retail Price Inflation, which has risen by 32% during the past decade compared with a 36% jump in inflation experienced by pensioners, according to life insurer Cler
ical Medical.
The group said housing costs have been the key driver behind the increase, rising by 69% since 1998, while council tax has soared by 89% and the cost of repairing and maintaining a property has jumped by 84%.
Housing is the single largest cost facing OAPs, accounting for 25% of overall expenditure.
Other areas of spending which have seen steep jumps include alcohol and tobacco, as well as the cost of food and transport.
The only major category where prices have fallen is clothing, which is now almost a fifth cheaper than 10 years ago.
A Department for Work and Pensions spokesman said: “We want to do more to help pensioners cope with rising food and fuel costs. We are spending £575 million increasing winter fuel payments, working with energy companies to lower fuel bills, and making it simpler for pensioners to claim help they’re entitled to.”
The full article contains 225 words and appears in Edinburgh Evening News newspaper.
