Family spending power increases in November
The latest Asda Income Tracker has revealed that families were better off in November compared to the same time last year and had more money to spend on festive goods.
The tracker shows that families had £11 more to spend per week during the month with £179 per week in their pockets after taxes and bills.
Families’ coffers were mainly boosted by the falling cost of travel in November. The price of filling up the tank declined by 6% on last year while families jetting off abroad enjoyed cheaper airfares.
In addition, shoppers benefited from a 1.7% fall in the cost of food and a 1% drop in the cost of alcohol.
Never Miss a Retail Update!Asda president and chief executive Andy Clarke said: “The cost of living remains a concern across households in the UK, however we’re now officially out of recession and people are seeing more money in their pockets now than they have since 2009.
“Our customers are always telling us how important it is that they can treat their loved ones and themselves at this time of year – so it is great to see the pressure on family finances ease a little- the lowest fuel prices since 2010 alongside the falling cost of food are all going to help with supporting family budgets throughout the Christmas period.”
