Family spending power continues to decline Asda reports
Within the last year it has been found that family’s have 7.1% less to spend as prices increase at twice the price of incomes.
According to the latest Asda Income Tracker, UK families now have £13 a week less to spend than the previous month.
According to the tracker the average family had £167 a week to spend in April, a fall of 7.1% from a year ago, as a result of rising costs on food and transport.
Andy Clarke, Asda President and CEO, said: “Spending power has seen another significant fall this month which is adding further pressure on family budgets.
“We know that shoppers are being savvy and managing their finances by scratch-cooking and buying what they need, when they need it," added Clarke.