Developed societies are facing a remarkable increase of population's longevity and, consequently, of chronic diseases such as obesity, cardiovascular or neurodegenerative diseases. Age associated cognitive impairment (CI) (dementia) in its different forms represent a real social, economic and public health problem, and particularly the severe and highly prevalent Alzheimer disease (AD). Inflammation and altered metabolism of neurotransmitters and hormones are common in elderly suffering CI and AD. Metagenomics studies have demonstrated that in normal adult population, as well as in older people, health status and diet are the main factors affecting microbiota composition. Older persons frequently develop immune system degeneration leading to a low response to antigens and to a low profile persistent inflammation (inflammaging). Data from elderly populations and disease models show that systemic inflammation alters gut microbiota and also certain changes in the microbiota induce inflammatory secretions. In addition, there is a more than likely role of gut microbiota in the gut-brain signalling through the synthesis and processing of neurotransmitters. Hence, changes occurring in the gut microbiota of the elderly mostly due to diet, environment and inflammatory processes might be associated to brain function. The objective of this review would be to show that there are evidences that link gut microbiota and cognitive decline through inflammatory processes, although direct action on neurotransmitters may not be discarded. Research data shown here supports the view that inflammation linked to neurodegenerative diseases associated to ageing, may cause changes in the gut microbiota composition that, turn, would feed inflammation and aggravating the disease. This perverse cycle has been delayed to a certain extent through a healthy diet rich in complex carbohydrates, such as the Mediterranean diet.