People aged between 50 and 64 years old continue to face the highest rates of inflation across the country, according to new figures.
This could inspire a number of people to consider utilising some of the cash tied up in their home to boost their finances by taking out an equity release scheme.
New data released by the Alliance Trust Research Centre (ATRC) has revealed that 50 to 64-year-olds in the UK currently face an inflation rate of 4.5 per cent.
That is 41 per cent higher than the headline rate of 3.2 per cent and represents the ninth consecutive month the age group has been worst off.
Shona Dobbie, head of the ATRC, said: “Currently, it is the two working age groups who face the highest rates of inflation, largely due to the fact that transport price inflation remains high, at close to nine per cent.”
Older homeowners in the UK who are curious about how the value of their property could boost their income with a tax-free cash lump sum can find out by using an equity release guide provided by Key Retirement Solutions.
Posted by Claire Ford
