Retirees’ disposable incomes have risen twice as fast as working age groups, but they have also faced a higher rise in costs, a new data have shown.

In a bid to calculate how well-off different groups are, the Office for National Statistics has compared the price rises faced by households on different income levels, including parents, workers and retirees.

Household Costs Indices published by the ONS, an experimental data set, has attempted to compare the disposable incomes of groups versus the prices they pay for goods, for the first time.

The data confirmed that workers’ disposable incomes were failing to keep pace with the cost of living. This comes as many recent surveys have shown household finances are under pressure, with the ONS revealing that inflation hit 3.1pc in November, the highest annual rate since 2012.

On average, workers saw their disposable income rise by 26pc over the past decade, that was outstripped by costs which rose by 27pc, according to the HCI report.