Consumers are rushing to buy energy-saving products as average household discretionary income fell by £141 a month on last year, according to figures from Asda.
The supermarket’s latest Income Tracker shows the average household was £35.44 a week worse off compared with last September, primarily due to soaring utility bills.
The figure is an annual contraction of 14.6% in September, having fallen by 14.3% and 13.5% in July and August respectively.
Asda said the tracker was set to fall further in October, when the Centre for Economics and Business Research expects inflation to further accelerate.
The energy price cap for the average household increased at the beginning of this month, contributing to an expected spike in price growth.