The Asda Income Tracker was £7.79 a week lower in July 2020 than a year before
The data from Asda's August 2020 Income Tracker also showed;
- Family spending power was down by 3.6% in July 2020 compared to the same month a year ago. This marks the steepest contraction since March 2012
- In the three months to June 2020, wages including bonuses fell by 2.0% in real terms, while those excluding bonuses saw a 1.0% inflation-adjusted fall
- Labour market data point to the loss of some 730,000 payrolls between March and July this year
Inflation, as measured by the Consumer Price Index (CPI), saw a 0.4 percentage point jump between June and July, reaching 1.0%
The full report for August can be read here.