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Asda

Family spending power continues to decline Asda reports

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By The Drum Team, Editorial

May 23, 2011 | 2 min read

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.

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