Asda’s latest income tracker revealed that families have £11 more per week to spend on festive treats for family and friends than they did the same time in 2013. In the final throes of Christmas shopping, Brits had £179 per week in their pockets, after taxes had been deducted and bills paid for.
Shoppers stocking up on festive food and drink during November 2014 paid less at the checkout than they did this time 2013 too as the cost of food fell 1.7% and alcohol dropped 1%. The UK is likely to spend more money this Christmas.
With inflation at its lowest level in 12 years at just 1.0%, and wages growing at 1.6%, it was a win-win situation for Brits who are now earning more, but paying less for the essential items they need. With more than 588,000 now in work, compared to 2013, even more, families will be able to take advantage of low prices and make their budgets stretch further and with more money to spend this Christmas.
President and CEO of Asda, Andy Clarke, said: “The cost of living remains a concern across households in the UK, however, we’re now officially out of recession and people are seeing more money in their pockets now than they have since 2009.”
“It is great to see the pressure on family finances ease a little – the falling cost of food are is going to help with supporting family budgets throughout the Christmas period.”