Falling food and drink prices boost customer spending

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UK FAMILIES had ​​an extra £18 a week to spend in September​, bringing the total amount of spare cash to £192​ ​a week thanks to a fall in the price of food and drink.

The latest Asda Income Tracker reveal​ed​ that ​households enjoyed a 10.6​ per cent​ increase in disposable income, ​boosted by a pre-winter fall of 2.1​ per cent​ in gas prices.​

Prices of essential items, like food and drink​,​ dropped by 2.3​ per cent​ as the UK​ enjoys ​two​ years of continued growth in spending power​.​

​Asda said that​ ​people​ looking to visit families over Halloween and Bonfire night​ will also benefit from the fall in petrol prices​, which fell​ ​by 3.7p per litre​ last month.​

​Asda’s ​chief ​c​ustomer ​o​fficer Barry Williams said: “Two years of solid growth on discretionary income​ ​shows real stability in the economic recovery.

​“​Across the UK the benefit will be being felt, granted in some areas more than others, but double digit growth can only be good news for those holding the purse strings.​“

All regions across the UK saw a double-digit increase in household discretionary income, ranging from a £12 increase in Scotland to a £24 increase seen in London. In Yorkshire discretionary income rose by £17.

Mr Williams said that despite the rise in spare cash, people are still being careful with their money​.

“They​ ​are re-prioritising their spending on treats and activities with their families,” he said.​