Family Income Changes
According to the ASDA Income Tracker, the total household income in January 2018 was £776 per week. With essential spending being £450 per week and taxes at £126 per week. The average family spending power is £200 per week. This family spending power was down by £1.13 a week year-on-year in January (a 0.6% annual decrease).
For lower and middle-income households, gross income growth has remained stable since November. Cuts in benefit payments as well as slow wage growth hold incomes back in these groups.
High earners are the only ones to see discretionary income grow in the year to January. The bottom 80% of the income distribution took a further hit to family spending power. Read full report.