State pensioners to be £13,000 worse off as UK inflation soars

However, in the long term, this could be more beneficial for pensioners.

This is because the September 2022 inflationary measure is likely to be used to calculate next year’s state pension increases.

It could mean a more substantial rise is available to older people next year.

Steven Cameron, Pensions Director at Aegon, said: “This could grant state pensioners a bumper increase under the triple lock next April.