In brief...: OAPs' living more costly

Jul 11 2008

Pensioners have seen the cost of the goods and services they use soar by more than a third during the past 10 years, according to a new study.

Therate at which the cost of living for pensioners is rising outstrips increases in Retail Price Inflation, which has risen by 32 per cent during the past decade compared with a 36 per cent jump in inflation experienced by pensioners, according to life insurer Clerical Medical.

The group said housing costs had been the key driver behind the increase, with these rising by 69 per cent since 1998, while council tax has soared by 89 per cent and the cost of repairing and maintaining a property had jumped by 84 per cent. Housing is the single largest cost pensioners face, with accommodation costing an average of £63.65 a week.