Essential reading for retailers and suppliers in the home improvement market

Brits spending power falls again in October

Published: 23 November 2010
Asda Income Tracker reports tenth month of decline, with UK families now £4 a week worse off than in the same month last year.
Brits spending power falls again in October
According to the latest tracker, the average UK family had £176 oer week to spend in October, down from £180 in 2009. The continued reduction in family spending power is the result of annual income growth failing to keep pace with the rise in the cost of essential goods and services.

Gross incomes rose just 2.2% over the three months to September compared with the same period last year. The cost of goods and services rose 3.3% in October, driven up by supply disruptions, the weakness of sterling and the impending VAT increase.

Inflation also remains above the Bank of England's 2% central target, reaching 3.2% in October.

Asda president and ceo Andy Clarke said: "In this environment UK businesses are acutely aware of their responsibilities to keep a lid on costs to enable them to ease the burden on customers,"

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

re: SX Rainproof Exterior Caulk

Wally
I need the exterior sx rain resistant caulk! Can't get it anywhere so please help! How can I order it? Need it yesterday...

re: BCT can replicate any material in a ceramic tile

Christina Tiritanou
Not sure if you can help as I require a tile which has the measurements of 6”x 6”? Thank you....

re: Latest update on Green Homes Grant and implications for homeowners and landlords

colin thompson
SarahVery clear and helpful information.Thanks...

Most read stories