ASDA Tracker Shows Families Worse off in July 2008

ASDA’S July income tracker highlights that families are spending £13 more a week for their shopping .
In July 2008, £130 was the average UK household weekly disposable income in July, 9.1% less than July 2007.
The supermarket chain states that this is equivalent to the average UK family presently being £13 a week worse off in contrast to July 2007. The amount spent on family essentials has gone up to £408 a week, led by rising inflation .
For the average UK family inflation on such key goods went up to 5.1% in July 2008, with family budgets being squeezed by the 12.3% increase in the cost of food and soft drinks in the twelve months preceding July 2008 as global commodity prices are still near record highs.
Moreover, transport costs have increased by 8.0% cent in the last twelve months as fuel prices sky rocketed.
A squeeze on disposable income is still ongoing.
Average earnings after tax were £16 a week more in July 2008 in contrast to July 2007. Hence, the average family had £13 a week less to spend on shopping as the cost of living carried on rising dramatically. Key bills like food, housing, utility as well as transport cost £29 more per week.

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