A worrisome trend could see many Australians get priced out of retirement.

The amount of money needed to comfortably retire has been climbing at its fastest rate since 2010.

Surging petrol, health and grocery prices along with rising inflation are to blame for putting seniors under added financial pressure.

Demographer Mark McCrindle told Sofie Formica people close to retirement can’t keep up.

“There’s quite a gap between what they receive and what the costs are,” he said.

“Retirees don’t have increasing wages – that’s the challenge they are facing.”

Press PLAY below to hear the full interview 

Image: Getty