Asda finds spending power has dropped in every region of the UK
Asda has found that household disposable incomes fell in every UK region during the fourth quarter of 2022 compared with the same period a year earlier.
Figures from the supermarket’s Income Tracker reveal that the amount households had to spend on themselves, after paying taxes and essential bills, fell by 11.4% year-on-year to an average of £209 per week.
Households in the South East experienced the biggest drop in disposable income which fell from a weekly average of £230 in 2021 to £186 in 2022.
Meanwhile Northern Ireland saw the largest fall in percentage terms, with disposable income falling by 27.6% year-on-year to an average of £93 per week to mark a seven-year low.
As the cost-of-living continues to bite, Asda has recently launched a new initiative where customers can cook seven evening meals for a family of four for under £20 using ingredients from its Just Essentials value range.
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