Despite a fall in inflation in the UK, people aged between 50 and 64 years continue to face the highest rates, according to new figures.
A high cost of living for people in this age group could inspire them to seek equity release advice to see how the value of their property could provide them with a tax-free cash boost.
Figures from the latest Alliance Trust Research Centre (ATRC) report have revealed that 50 to 64-year-olds currently face an inflation rate of 4.6 per cent.
This is 35 per cent higher than the headline rate of 3.4 per cent.
The organisation explained that this is “largely due to the fact that this group spends relatively more of their disposable income on transport; where inflation remains relatively high, at more than 10 per cent”.
“Furthermore, fuel price inflation remains particularly high, at almost 23 per cent,” the ATRC added.
Homeowners who are curious about how much cash their property could generate can find out by using the equity release calculator provided by Key Retirement Solutions.
Posted by Claire Ford
