Families' weekly spending power rises by £16
UK families now have £16 more spending power each week according to Asdas latest monthly Income Tracker. This means that families are better off today than they have been for over five years.
The research shows that UK families had £185 per week to spend on small luxuries like cinema tickets and eating out in January which was almost 10% more than they had at the same time last year.
Asda said family finances had been helped by a fall in the cost of fuel, groceries and household energy.
Sam Alderson, economist at CEBR, said: “With wages rising and inflation likely to remain subdued for much of the year, households are expected to provide a key driver of growth for the UK economy in 2015. However, buying habits have evolved in the tough years following the financial crisis and, until households truly feel confident in the sustainability of their own economic recovery, shoppers will continue to try to squeeze more value out of their spending.”
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