New research by the charities shows that more elderly people are cutting back on essentials, such as food and heating as they struggle to get to grips with their monthly outgoings.
"Many older people are being clobbered by high prices and are being pushed to extreme measures to cope financially - the government cannot sit by while older people skip meals and put their health at risk," said Michelle Mitchell, director of the charities.
She added that the current economic crisis is a defining issue and the government needs to address the impact it is having on the elderly in its upcoming budget.
Help the Aged and Age Concern joined forces to tackle age related issues at the start of this month.
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