Inflation: Eating and heating crippling pensioners warns Saga
In response to research produced by the Institute for Fiscal Studies, Dr Ros Altmann, Director General, Saga said:
“We welcome the research from the IFS which highlights the damaging effect that inflation is having on pensioners. They are powerless to protect themselves and it is imperative that The Bank recognises these dangers of high inflation.
“Our Saga Price index reveals that inflation is in fact higher for those in their 50s than it is for the UK as a whole. The essential items that pensioners buy – namely heating and eating - are being severely knocked by soaring levels of inflation affecting prices. And Saga remains concerned that this threat is not been taken seriously enough.”
Month after month, savers witness the value of their hard-earned savings whittled away by inflation. It is an outrage that this important demographic continues to be ignored”
For further information please contact the Saga Press Office on 01303 771529.