Asda income tracker suggests families have more spending power this Christmas

Families are marginally better off this year than they were last year and have more disposable income to spend on festive goods, Asda has claimed in its latest income tracker.

Asda: families have more disposable income this festive season
Asda: families have more disposable income this festive season

Asda said the survey, which tracks average household spending power, has found that Brits had £11 more to spend per week in November than they did over the same month in 2013.

Households had an average of £179 per week to spend on festive goods after taxes and bills, it said.

Pockets were boosted by the falling cost of travel, with petrol prices down 6% year on year. The cost of holidays also dipped, as well as food and alcohol prices.

According to Asda the cost of food fell 1.7% and alcohol was 1% cheaper than last year. The economic environment was also boosted by a fall in inflation, wage growth and an increase in the number of people in employment.

"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," said Asda CEO, Andy Clarke.

"Our customers are always telling us how important it is that they can treat their loved ones and themselves at this time of year – so it is great to see the pressure on family finances ease a little- the lowest fuel prices since 2010 alongside the falling cost of food are all going to help with supporting family budgets throughout the Christmas period."

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