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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Elderly facing high inflation

20/11/2008

Elderly people in the UK are facing a rate of inflation that exceeds the average.

This is according to figures produced by the Alliance Trust, which found that such people are experiencing rises in prices of 7.1 per cent, compared to the under 30s and those aged between 30 and 49, both of which are facing inflation of only 4.5 per cent.

Older people may, therefore, be experiencing personal finance difficulties such as debt problems.

The rise in gas and electricity prices of more than 50 per cent and 30 per cent respectively over the last year have hit the elderly particularly hard, as this demographic typically spends nearly seven per cent of its budget on utilities.

"While it is good to see headline inflation fall back sharply this month, we remain concerned about the high level of inflation which the older age groups still face," stated Shona Dobbie, head of the Alliance Trust Research Centre.

Recently, the Conservative party announced that, if it got into power, it would make it illegal for power companies to charge unfair prices to customers with pre-payment meters in a move designed to provide relief to pensioners and families struggling with their personal finances.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according