Discretionary income flat year-on-year says Asda Income Tracker
- The average UK household had £158 a week of discretionary income in October 2013 – the first time since June that discretionary income has not fallen year-on-year
- A sharp decline in annual essential item inflation between September and October provided welcome respite to UK households – down 0.7 percentage points, to 2.1%
- Good news for motorists in particular as the cost of fuel fell 4.2% year-on-year- driven by the largest decline in the price of petrol since November 2008
- However, weak net income growth continues to curtail the benefits of falling inflation – slowing to a year-on-year rate 1.9%, the lowest growth since March 2012
- The rising cost of energy is also a factor constraining spending power, with the price of gas and electricity up 8.3% and 8.6% respectively over the 12 months to October.
The latest Asda Income Tracker has revealed that family spending was flat in October 2013, as a steep decline in essential item inflation offset weak income growth.
According to the latest figures, released today (Monday 18th November), the average UK family had £158 of discretionary income available to them in October 2013, unchanged from last year – halting a three month period of year-on-year decline.Read more and download the full report