£1 a week fall in discretionary household income for UK families last month says Asda Income Tracker.
- The average UK family had £157 a week of discretionary income in May 2013, down £1 a week from the same month last year and £8 a week from its peak in February 2010
- Weak wage growth was again a key factor, up just 0.9% in the year to April – the second smallest year-on-year rise on record
- The sharp rise in the rate of essential item inflation, up 0.3 percentage points to 2.9%, also played a role in the decline in discretionary household income
- Good news for motorists, however, with the cost of fuel falling 2.9% year-on-year
The latest Asda Income Tracker has revealed that family spending power fell by £1 a week year-on-year in May 2013 – driven by rising inflation and persistently weak wage growth.
According to the latest figures, released today (Monday 24th June), the average UK family had £157 of weekly discretionary income available to them in May 2013, down from £158 in the same month last year. This means discretionary income is well below its peak of £165 in February 2010.Read more and see the full report here