It may be ever more important for people to claim PPI refunds as the average cost of living is expected to increase by £630 annually.MGM Advantage, which specialises in retirement income, has revealed that the average annual household expenditure is estimated to reach £35,363.This research follows the news that the latest annual CPI inflation rate has reached 4.4 per cent.Aston Goodey, sales and marketing director at MGM Advantage, said: "The latest CPI rate of 4.4 per cent will continue to hurt people financially in retirement."The price of goods is rising at an alarming rate and coupled with the fact that people are living much longer, means many people in retirement are finding it more difficult to survive financially."Collectively, the increase in the inflation rate means that UK households will have to find an extra £39 billion to maintain the standard of living that was enjoyed 12 months ago.John FieldmanHaving worked in the city for 19 years, John's main focus is interest rates and corporate finance.
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