The average UK family is £12 a week better off compared to June 2008 as the effect of Bank of England interest rate cuts continue to help mortgage payers. As a result the average household had £164 a week of discretionary income in June 2009, 7.8 per cent higher than a year earlier – when spending power was being hit by rapidly rising prices.

Food and drink inflation is the lowest it has been since November 2007, while inflation on utilities is the lowest since April 2008. Transport costs are down year on year but have risen in each of the last five months.

Today ASDA announced that over 16,500 colleagues will share in a £43million payout thanks to the company’s Sharesave plan.

This years’ plan will be the largest ever payout since Wal-Mart acquired ASDA in 1999. The current stock price means all investors will receive a 150 per cent return on their monthly investments.

Today ASDA launches the lowest priced bike on the market as part of Pedal Power; a new ASDA initiative which aims to get more Brits on their bikes by making cycling more accessible to all.

Launched to coincide with Bike Week, (13th-21st June), these four bicycles, starting at £50* for kids and £70* for adults, are part of the iconic British Eagle label. ASDA has brought tens of thousands of the bikes so they are able to offer them at this permanently low price. Incredibly ASDA will not be making a penny from the sales such is the supermarket’s commitment to getting the nation on their bikes.