THERE are some things that the rich know that other people don’t – principal among them, how hard it is actually to stay rich.

The super-wealthy and their jetsetting chums now have it tougher than ever before, according to the latest Affluent London Living Index from Stonehage, which provides wealth management to “International Families of Ultra High Net Worth”.

The index found a 6 per cent inflation rate in the luxury goods sector since 2006, excluding house-price inflation. School fees have risen by 6.8 per cent this year, while the price of luxury accessories is up by 26.7 per cent and vintage wines by 116.9 per cent. So far this year house prices in Mayfair have risen by 35.7 per cent, in Chelsea by 30.5 per cent and in Knightsbridge by 25.9 per cent, Knight Frank says.

Somewhat more encouraging is the prediction that luxury inflation will drop by a third. Furthermore, a boob job is 10 per cent cheaper than last year and a NetJets private aircraft 6.5 per cent cheaper. Luxury goods remain in demand, with the number of billionaires increasing by 15 per cent last year.

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