According to a survey from Livemore, which collated views from 2,000 people aged 50 to 90-years old, three per cent said they had been “completely unaffected” and 41 per cent said they were only impacted a “little”.
The flip side of this is a third saying they were being impacted “a lot” by rising prices.
Drilling down into the data showed that those impacted most are aged 50 to 59-years-old and those aged 80 to 89-years-old, with up to a third reporting being impacted by the cost of living crisis.
Those aged 70 to 79-years-old were the most financially comfortable with 35 per cent saying they were unaffected.
In the South East, over a third of 50 to 90-year-olds said they were able to cope with rising prices and in the East of England it came to 31 per cent.
Those in Northern Ireland and the North West had the highest percentage who said they were being hit hard by the cost of living crisis.
LiveMore’s chief executive officer Leon Diamond (pictured) said that there were some older people who were struggling to make ends meet but that the survey showed “only part of the picture”.
“There are many 50-90 year-olds who are not yet feeling the pinch thanks to income from good pensions or investments.
“In fact, these are the people whose spending is continuing to drive the economy and will help it to recover once the recession properly bites,” he added.
Diamond continued that as a financial institution it would rather get a “proper understanding of the over-50s’ financial health than make assumptions about them”.
He said the results showed the “true complexity of the financial pressures they are under”.
“Of course, it is hard for some. But not for everyone. And that is good news for the economy,” Diamond noted.
