Household disposable incomes fell in every UK region during the fourth quarter of 2022, according to Asda’s latest Income Tracker.
The figures shows that the amount households had to spend on themselves after paying taxes and essential bills fell by 11.4% to an average £209 per week, compared to £236 during the same period in 2021.
This comes as a result of an increase in household gas, electricity and fuel bills, while food inflation jumped to 13.3% in December.
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Across the South East, households saw the biggest fall in disposable income, down by £44 per week, while families in Northern Ireland saw the largest fall in percentage terms to 27.6% year on year at £93 per week.
The Big 4 grocer found that Wales was also one of the areas to see the largest decline in disposable income, down 15.9% to £170 per week.
This comes as Asda has launched a ‘Just Essentials’ budget meal plan that promises to feed a family of four for under £20 a week.
The dishes which cost as little as £2.10 per meal for four, include tomato pasta, bacon and pea frittata, chicken stew and rice and fish pie and come as it continues to step up its commitment to supporting families during the cost-of-living crisis.
Earlier this month, Asda also extended its ‘Kids Eat for £1’ and ‘Winter Warmers’ deals into 2023, available at its 205 cafés until the end of March.
