Fine wines, oysters and fancy restaurants up by 5.9% in past year, says Queen’s bank
The wealthiest Britons are experiencing inflation at twice the rate of the rest of the UK population as the prices of goods and services favoured by the richest 1% – oysters, fine wines, Michelin star restaurants and elite private schools – are rising much faster than more middle of the road products.
Coutts, the private bank which only accepts customers with more than £1m in investable assets, said its clients should be wary of rising prices as its research found that the price of a basket of luxury products has risen by 5.9% over the past year, compared with the UK government’s official basket which rose by 2.4%.
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