Disposable income hits 12-month low

The average weekly disposable income has fallen to a 12-month low, the second consecutive year-on-year decline in two months, according to Asda.

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The average weekly disposable income has fallen to a 12-month low, the second consecutive year-on-year decline in two months, according to Asda.

The grocer’s monthly income tracker showed that the average UK family had £155 a week of discretionary income in April 2013, down £1 a week from the same month last year.

Overall this represents a fall of £10 a week from its peak in February 2010.

Rising unemployment and the steepest decline in wage growth since the start of the recession in 2008 were both factors in the fall in spending power in April, according to Asda.

Average pay rose to just 0.8 per cent over the year to April, the lowest increase since the Office of National Statistics (ONS) began collecting comparable figures in 2001.

Unemployment in the UK has also increased by 15,000 in the last year to 2.5 million, with the rate of unemployed now at 7.8 per cent.

The Asda income tracker is a measure of ‘discretionary income’, reflecting the amount remaining after the average UK household has had taxes subtracted from their income and bought essential items such as: groceries, electricity, gas, transport costs and mortgage interest payments or rent.

2 Responses to “Disposable income hits 12-month low”

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  2. Tony's bits.

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