Average family disposable income falls

The average UK household had £131 a week disposable income, falling by 6.5% from a year earlier.

ASDA's monthly income tracker found that the average UK family is £9 a week worse off compared with June 2007. The total cost of the average family's essential basket of goods has risen to £407 per week, a 6.8 per cent rise whilst the cost of food and non-alcoholic drinks for the average UK family rose by 9.5 per cent over the year to June. The cost of utility bills has increased by 7.0 per cent for the average family since June 2007.

Commenting on the June Income Tracker, Andy Bond ASDA CEO said: “Our latest report shows clear evidence of the squeeze on real disposable incomes. While average earnings before tax went up £22 a week over the year to June 2008, the average family was still £9 a week worse off.

“The cost of living has continued to rise sharply, although reductions in the basic rate of tax have helped to ease some of the pressure on families."

Tagged as: asda | income tracker

Text size: A | A | A