The Asda Income Tracker was £2.62 a week lower in May 2020 than a year before
The Asda Income Tracker was £2.62 a week lower in May 2020 than a year before
The data from Asda's June 2020 Income Tracker also showed;
- Family spending power fell by 1.2% in the year to May 2020. With the economic fallout from coronavirus impacting individuals’ incomes via furloughing, redundancies, wage cuts and reductions in hours, discretionary income has weakened year-on-year
- Wage growth slowed for the tenth consecutive month, according to the latest data from the Office for National Statistics (ONS)
- Inflation, as measured by the Consumer Price Index (CPI), slowed for the fourth consecutive month, reaching 0.5%
- Oil price volatility continued to suppress domestic prices for the likes of housing & utilities and transport. These categories saw year-on-year price falls of 1.2% and 1.7%, respectively
The full report for June can be read here.