The average UK family has £6 less per week to spend than it did a year ago, according to Asda’s latest Income Tracker report.
The figures, which cover November, show that while gross incomes were 2.3% higher than in the same month last year, the cost of essential goods and services had risen 3.5% in the period.
November was the 11th consecutive month of falling household spending power, the report says. In November, the average family had £174 a week to spend, down from £180 in November 2009. The main driver was transport, with petrol having risen in price 9.6% over the year.
Asda chief executive Andy Clarke (pictured) said the outlook remained tough. “As we approach the new year and the imminent VAT increase, family spending power is going to remain under considerable pressure.”