WIREDGOV

Family spending power falls back by sharpest rate in 12 months

£1 a week fall in discretionary household income for UK families last month says Asda Income Tracker, compiled by Cebr – the second consecutive year-on-year decline.

• The average UK family had £155 a week of discretionary income in April 2013, down £1 a week from the same month last year and £10 a week from its peak in February 2010
  
• Rising unemployment and the lowest wage growth on record were both key factors in the fall in spending power in April
  
• Steepest decline in wage growth since the start of the 2008 recession
  
• Soaring energy prices continue to squeeze household budgets, with the price of gas up 8.3% year-on-year
• Good news for motorists, with the cost of fuel falling 3.7% year on year, reflecting the recent drop in the cost of Brent crude oil