"The rise in inflation for the third month in a row is likely to damage retirees buying power and is set to take out a serious chunk of peoples' nest eggs. Many don't appreciate the true cost of inflation. For those who retired before 2010 and took out a fixed annuity, the cost can be staggering. As bills rise across the board, retirees on a fixed income begin to feel the inflation pinch. As we enter this period of increased inflation, one of the ways people can consider avoiding inflation eating away at their hard earned cash is to seek out alternative investment vehicles."
Inflation comment: "take out a serious chunk of peoples' nest eggs"
Elliott Silk, commercial director at Sanlam, comments on inflation rises: