Families in Northern Ireland, Wales and the Midlands have experienced a boost in disposable incoming, research reveals.
September was the first time households in those areas saw their expendable cash increase since 2021. The average family in Northern Ireland were better off by £5 per week, totalling £103, the UK’s third strongest growing region in that time.
In Wales and the West Midlands, families were able put aside £179 and £174 each year, a rise from £169 and £173 respectively.
The increase was attributed to a ‘robust job market’ and growth in earnings throughout the three month period according to Asda’s Income Tracker. The outlook is promising too, as growth in wages is expected to outstrip inflation ‘in the near future’.
When it comes to the rest of the country, people are spending much more after their taxes and essential bills are paid for. The amount being spent grew by 5.2% in the third quarter of the year and on average, households were spending £221 per week on themselves. This compared to £208 in the previous three-month spell.
However, the disparity in earnings and spending between London and the rest of the country was described as ‘stark’ by the supermarket giant as its research showed the capital saw disposable income shoot up by 7.3%.
Asda’s tracker figures come a couple of weeks after the retailer dropped the prices of 232 own-branded products on an array of essential foods including fruit, bread, vegetables and fresh meat.
