Older people are being worst hit by rising food and fuel prices as they are on fixed or even declining incomes.
Those who use savings for day-to-day expenses will find their income falling because of low interest rates, explains Simon Bottery, director of policy and communications at Independent Age.
Many may be looking to get credit in order to be able to pay bills and go shopping, although they should take care when managing credit card debt.
Figures from the fifth annual Scottish Widows UK Pensions Report show that the debt burden for retirees is getting worse, while overall UK debt is falling.
The average outstanding non-mortgage debt owed by retired people is £7,344, up from £6,732 in 2008 and £5,930 in 2007.
And it is not just themselves that retired people are using credit cards for - one in fourteen still have dependent adult children who they help out financially.
Posted by Gemma Walker
