Households £1 a week richer than last year
Families are £1 a week better off than they were a year ago, marking the strongest improvement in disposable incomes in more than two years, a study has found.
UK households had £151 a week left over after paying essential bills in July, the highest amount of discretionary income recorded in 16 months, following a ‘marginal’ improvement in incomes recorded in June compared with £150 left over a year earlier, Asda's monthly study found.
Recent falls in inflation and better-than-expected unemployment figures drove a 0.6% year-on-year increase in disposable incomes in July, representing the biggest improvement seen since March 2010.
However, the pressure on budgets could increase in the coming months as jobs shortage and wider economic uncertainty continue. Households have come under strain from high inflation which has pushed up living costs, and ithe report warned of increased prices on food and fuel in the coming months.