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Despite falling today to 4.5 per cent, the rate of inflation is still too high particularly for the oldest and poorest members of society, according to Age Concern.
The charity has revealed that hikes in energy costs have hit pensioners the hardest while recent research showed that over half of those struggling to pay heating bills are having to cut back on essentials to meet payments.
Meanwhile, one in ten of the UK's pensioners have gone into debt trying to cope with inflation and many are left suffering in fuel poverty.
Age Concern's director general Gordon Lishman said the government needs to step in to help older members of society pay for essentials such as home heating oil costs.
"It is only fair that Pension Credit should be increased by the real rate of inflation for low-income pensioners," he added.
Although the cost of heating oil has risen by 26 per cent over the past year, government inflation figures released today revealed that prices have dropped by 14.5 per cent in the last month.
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