The cost of living for pensioners has outstripped inflation over the past 10 years, a study suggests.
The cost of living for pensioners has outstripped inflation over the past 10 years, a study suggests.
Pensioners have seen the cost of the goods and services they use rise by 36% in the past decade, said life insurer Clerical Medical.
Pensioners have seen the cost of the goods and services they use rise by 36% in the past decade, said life insurer Clerical Medical.
However retail price inflation has risen by 32% in this time, it added.
However retail price inflation has risen by 32% in this time, it added.
The rising cost of housing, council tax and maintaining property were the biggest reasons, the study said, along with alcohol and tobacco.
The rising cost of housing, council tax and maintaining property were the biggest reasons, the study said, along with alcohol and tobacco.
Only footwear and clothing is cheaper than it was in 1998, the report added.
Only footwear and clothing is cheaper than it was in 1998, the report added.
"The cost of living for pensioners has increased by more than that for all households during the period, particularly in the last five years," said Martin Ellis, chief economist at Clerical Medical.
"The cost of living for pensioners has increased by more than that for all households during the period, particularly in the last five years," said Martin Ellis, chief economist at Clerical Medical.
"The average cost of living facing pensioners has risen by more than one third over the past decade."
"The average cost of living facing pensioners has risen by more than one third over the past decade."
Credit payments
Credit payments
The government said that it wanted to do more to help pensioners with food and fuel bills.
The government said that it wanted to do more to help pensioners with food and fuel bills.
A spokesman for the Department for Work and Pensions said: "That's why we're spending £575m increasing winter fuel payments this winter, working with energy companies to lower pensioners' fuel bills, and making it simpler for pensioners to claim all the help they're entitled to.
A spokesman for the Department for Work and Pensions said: "That's why we're spending £575m increasing winter fuel payments this winter, working with energy companies to lower pensioners' fuel bills, and making it simpler for pensioners to claim all the help they're entitled to.
"Average net incomes for pensioners, after they've paid housing costs, have increased by 43% since 1997. Most pensioners own their own home and don't have mortgage costs."
"Average net incomes for pensioners, after they've paid housing costs, have increased by 43% since 1997. Most pensioners own their own home and don't have mortgage costs."
They added that pension credit, which increases in line with average earnings, meant that no pensioner needed to live on less than £124 per week, compared with £69 in 1997.
They added that pension credit, which increases in line with average earnings, meant that no pensioner needed to live on less than £124 per week, compared with £69 in 1997.
Earlier this week the Joseph Rowntree Foundation said a pensioner couple needed £201 per week excluding housing and childcare costs.
Earlier this week the Joseph Rowntree Foundation said a pensioner couple needed £201 per week excluding housing and childcare costs.
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