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Young people ‘facing highest rate of inflation’

Young people certainly do not have it easy these days when it comes to finances, and new research has revealed that the under-30s are continuing to suffer from the highest rate of inflation.

The latest figures from the Alliance Trust Economic Research Centre revealed that the youngest age group are facing an inflation rate of 3.4 per cent, which is mainly down to the recent jump in university tuition fees.

This could see younger people facing larger amounts of debts due to things like bank charges if they go over their limit. 

By comparison, all the other age groups face lower rates of inflation.

People aged between 30 and 49 and 50 and 64 are looking at an inflation rate of 2.4 per cent, while people in the 65 to 74 and over-75 demographics are experiencing the lowest rate of inflation at 2.1 per cent.

It was also found that food, non-alcoholic beverages and tobacco all contributed to the high rate of inflation in November.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801509310-ADNFCR

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