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UK families 9 a week worse off - Asda

UK families were found to be £9 a week worse off in June than they were a year ago, the latest Asda Income Tracker has discovered.

The Average household was found to have £36 a month less to spend in June 2011 than during the same month last year, with a discretionary income of £167 a week, 5.1% lower.

Despite this, the tracker also found that there had been a ‘slight rise’ in the average earnings, but that it was still ‘well below’ pre-recession levels with an annual revenue rate rise of 2.1%.
Consumer price inflation fell from 4.5% in May to 4.2% in June, although transport costs rising by 16% on last year’s costs, with a 15,2% rise in petrol prices in the last year (16% for diesel) further pressuring family finances.

Regional disposable income also found that families in London had £283 a week in Q2 of this year to spend, while the UK average is £168 for that period.

Northern Ireland continued to have the lowest household spending power falling from £87 in Q1 of 2011 to £80 in Q2.

Andy Clarke, president and CEO of Asda, said: "Nationally, shoppers' disposable incomes are still down year-on-year. While it's a relief to see a significant improvement on last month's record drop, only time will tell whether this is a one-month blip or the beginning of a trend."

“Across the regions, it's a mixed picture. While spending power dropped everywhere, the fall in London and the South East was relatively mild. That contrasts with a much more dramatic fall in Northern Ireland and the North West where the higher car usage, and dependency on petrol, leaving a larger hole in household budgets.”

Source : Marketing/The Drum

20 July 2011
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