Flat spending power growth highlights continued pressure on household budgets
22 January 2013
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- There was no annual growth in real discretionary spending power in December as income growth struggled to keep pace with inflation.
- Income growth continues to be weak at 2.9% on a year ago, and -0.1% in real terms.
- Spending on essential items grew by 3.0% from a year earlier.
- Growth in spending on gas and electricity bills continued to fall back in December, while spending growth on food and drink demonstrated a more subdued festive period than might have been expected.