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November 21, 2022

The Comet – Spending power of families shrinking as Christmas approaches – study

After paying tax and essential bills in October, the average household had £203 per week left – the lowest amount since August 2018 – the report from Asda found.

The index measures the amount of discretionary income UK households have left over to spend after essential bills such as groceries, energy, transport, mortgages or rent, and tax are subtracted.

The income tracker is produced by the Centre for Economics and Business Research (Cebr).

The under-30s saw the biggest annual fall in their spending power in October, while those aged 50 to 64 tended to be the most resilient – although all age groups saw their spending power shrink compared with October 2021.

Read the full article.

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