Inflation in pension households has continued to rise in the last ten years, according to research.
Including rising housing costs, which account for 21 per cent of expenditure in a pension household, total inflation has risen 34 per cent since 1996, Clerical Medical's study shows.
The continued rise of mortgage prices has been the "main driver" behind inflation in pension households, as it has risen by 73 per cent in the last decade.
This accounts for 44 per cent of all inflation for pensioners in this period, although rises in council tax (94 per cent) and maintenance and repairs (93 per cent) are also contributing factors.
Tim Crawford, group economist of Clerical Medical, commented: "Pensioners have faced a one third rise in the average cost of living over the past decade.
"Higher housing costs have been the key factor driving up living expenses for pensioners with these costs accounting for almost a quarter of the average pensioner's total spending."
Recent government reforms which aim to improve income in pension households will be offset by raising the retirement age to 68 in the future.
Pensions inflation continues to rise, study shows
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Pensions inflation continues to rise, study shows
Mon, 21 Aug 2006
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