Income Tracker growth rises to three-and-a half-year high as inflation falls back
This month the Asda Income Tracker data show that;
- The Asda Income Tracker was £14.00 a week higher in October 2019 than a year before
- Family spending power increased by 6.8% in the year to October 2019, up from the 6.1% annual increase measured in the previous month
- This is the highest annual increase in percentage terms since May 2016, when discretionary incomes rose at a rate of 7.0%
- In pound-terms, the Income Tracker was £14.00 higher than in October last year
- Households benefitted from lower inflation in October, brought about by a decrease in energy prices
- Inflation, as measured by the Consumer Price Index, fell to 1.5% in October, down from 1.7% in the previous month. This is the lowest rate of inflation in three years
50 to 64 year-olds have the highest weekly discretionary income at £294
The full report can be read here.