CNK Nepal
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Elderly paying more than 15 per cent of their household budget on food
March 19th, 2009 by admin
The gap between inflation rates for young and old people remains a wide one, with the elderly facing an inflation rate that is almost double that experienced by young people. This is due to people on lower, fixed incomes spending more of their money on staple purchases like fuel and food, which are the basic essentials that have been hit hardest by inflation.Gas prices have risen by 50 per cent over the last year and electricity costs by more than 30 per cent. People who are aged 75 years and older are paying an average of more than seven per cent of their annual income on domestic fuel, whereas people aged less than 30 years old pay just three per cent. It is similar with food, which now costs 11 per cent more than a year ago and the elderly are spending more than 15 per cent of the household budget on this. Under 30’s in comparison pay just nine per cent.
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