The cost of luxury goods and services has risen more than twice as fast as that of everyday items, according to new research from Coutts.  

The Coutts Luxury Price Index (CLPI), which measures luxury inflation, rose by 5.9 percent for the 12 months to the end of October – more than double the latest Consumer Prices Index figure of 2.4 percent. 

A key finding from the latest CLPI is that secondary school fees have tripled in 20 years and the cost of a private education continues to rise faster than inflation. School fees and phones are among the items pushing up prices so fast.

The ...