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UK households 142 pounds worse off in October versus last year -Asda

Thứ Ba, 22 tháng 11, 2022
UK households 142 pounds worse off in October versus last year -Asda © Reuters. FILE PHOTO: A row of residential houses are seen during sunrise in London, Britain, September 28, 2022. REUTERS/Hannah McKay/File Photo

LONDON (Reuters) - The average British household was 142 pounds ($168) worse off in October year-on-year, mainly due to the steep rise in energy costs, supermarket group Asda said on Monday.

Publishing its monthly Income Tracker survey, produced with the Centre for Economics and Business Research, Asda said after paying tax and essential bills the average household had 203 pounds per week left – the lowest amount since August 2018.

Its data showed 54% of households plan to spend less on Christmas decorations. They also plan to spend less on presents for extended family members and friends.

However, 92% of shoppers plan to spend the same or more on their children despite having smaller budgets.

Consumers have been cutting back on their spending as inflation has soared, hitting 11.1% in October.

Last week, Britain's Office for Budget Responsibility said UK household disposable incomes would fall by 4.3% in the current financial year and by 2.8% in 2023-24, the sharpest declines in records dating back to the 1950s.

That two-year slump would wipe out all the growth in living standards over the eight years to 2022, the OBR said.

A survey published on Friday showed consumer confidence improved this month from October but remained close to an all-time low.

A raft of other surveys have predicted a half or more of Britons plan to spend less this Christmas.

($1 = 0.8467 pounds)

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
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 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
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 Gold2,295.80↑ Sell
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 Crude Oil WTI81.14↑ Sell
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 US Coffee C213.73↑ Sell
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 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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