Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Families' disposable incomes are at their lowest since 2008, despite the decline in their spending power slowing, a report has said.
UK households had £144 a week of discretionary income in April on average, the lowest level since November 2008, the Asda Income Tracker found.
The study shows how families are feeling squeezed despite official figures showing this week that inflation fell to its lowest level in more than two years last month, as high street discounting eased some of the pressure on household budgets.
The Asda study said that families were £6 a week worse off than they were a year ago, although this was the smallest year-on-year decline since March 2011.
Growth in the cost of living slowed notably in April, to the lowest rate in 19 months, the report said.
But households' income growth was described as "still very fragile", with the improving cost of basic goods being overshadowed by tough labour market conditions with below-inflation wage increases and high unemployment.
The report warned that "family finances are likely to remain constrained for some time yet".
Despite some recent improvements in the cost of utilities and food, with energy providers making cuts to bills in March, they are still two of the main factors putting pressure on discretionary spend, the study found.
Electricity and gas charges were 8.1% and 15.4% higher respectively in April than 12 months previously, while food costs rose by 4.3% over the year.
Petrol and diesel prices were 4.9% and 4.2% higher in April than a year before, with the benefit of supermarket price cutting yet to kick in, the report said.
Family spending power is the amount remaining to spend on leisure and recreation after taxes and basic items are subtracted from budgets.
PA
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments