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New research into age related inflation by the Alliance Trust Research Centre found that over 75-year-olds faced an inflation rate of 4.1 per cent in April.

This compares to the under 30s age group which faced the lowest level of inflation in April at 3 per cent - on par with the official headline rate of inflation.

Earlier today (13 May) the government revealed that the Consumer Price Index (CPI) reached 3 per cent in April, up from 2.5 per cent in March.

Alliance Trust warned that inflation could rise even further over the next few months, reflecting further pressure on prices for both food and fuel.

The rising cost of living is already having a major impact on the inflation rate facing the elderly. Food prices have meanwhile risen by more than 7 per cent over the last year, utility prices have jumped by more than 8 per cent and petrol prices are up almost 19 per cent over the same period.

Thirty to 49-year-olds incurred a 3.3 per cent increase in inflation in April, 50 to 64-year-olds a 3.6 per cent increase, and 65 to 74-year-olds a 3.8 per cent rise.

Head of the Alliance Trust Research Centre Shona Dobbie said: "Once again, we have found that the over 75s are the most exposed to the negative impact of high food and energy costs.

"We still face the problem that it is the prices of basic goods and services which are displaying the highest inflationary pressure. When everyday items are going up in price, the impact on our wallets is highly visible to us all.

"The official headline rate of inflation rose considerably this month, but in the case of food and energy the situation is even worse, and this leaves us with less money to spend on the items where prices continue to fall.

"Unfortunately, we see little respite from this situation over the next couple of months as the oil price is expected to remain high and there are global shortages of some foodstuffs. Headline inflation is likely to rise a bit further in the short term."