Asda has revealed that financial pressures for households in certain areas of the UK eased last month, as disposable income saw growth for the time in over two years.
According to Asda’s latest Income Tracker, households in Northern Ireland, Wales and the West Midlands experienced the most growth in disposable income during September.
The supermarket chain found that disposable income for the average family in Northern Ireland has increased by £5 per week to £103, making it the UK’s third strongest growing region in Q3 2023.
Families in Wales and West Midlands saw a year-on-year increase in their disposable income in Q3, rising from £169 to £179 and £173 to £174, respectively.
Across the UK, the amount households had to spend on themselves, after paying taxes and essential bills, grew by 5.2% during Q3 to an average of £221 per week, compared to £208 in Q2.
The supermarket has invested £44m over the last few months and recently lowered prices on 232 popular products bought by customers each week, including bread, fresh meat, pasta and cupboard staples.
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The tracker also revealed that household disposable incomes grew in all UK regions except the South West, driven by a robust job market and growth in earnings throughout the quarter, which is predicted to overtake inflation in the near future.
However, despite improvements across the UK, there remains a large gap between the capital and the rest of the country. The average household in London saw their household disposable income increase by 7.3% to £292 per week in Q3.
It comes as more than five million customers are now using Asda’s Rewards app, which provides customers with the chance to earn pounds, rather than points, each time they purchase certain products or complete a milestone mission.
Customers have earned over £200m in their Cashpots, which they can use to reduce their grocery bills.
