Family spending power continues to rise

February 21, 2014 1:31 PM
Originally published by UK Liberal Democrats

The latest Asda Income Tracker has revealed that family spending power increased by £3 a week compared to last year. The rise was driven by a fall in the rate of essential item inflation to 1.9%, the lowest rate in four years.

Key figures include:

  • The average UK family has £160 a week of extra spending money after taking bills and essentials into account
  • Inflation has fallen to 1.9% - the first time inflation has dropped below 2% in over 4 years - helping to keep costs down
  • Petrol and diesel costs have fallen by 1.8% since last year and food price inflation is low at 2%
  • Energy bills rises, while still putting pressure on household finances, are slowing down thanks to new measures introduced by the Coalition Government
  • Pay has grown by 1%

Find out more about what Liberal Democrats are doing to help you with the cost of living.