The company’s latest Income Tracker shows the average household was £35.44 a week worse off compared with last September.
26 October 2022
Consumers are rushing to buy energy-saving products as average household discretionary income fell by £141 a month on last year, according to figures from Asda.
The supermarket’s latest Income Tracker shows the average household was £35.44 a week worse off compared with last September, primarily due to soaring utility bills.
The figure is an annual contraction of 14.6% in September, having fallen by 14.3% and 13.5% in July and August respectively.
Asda said the tracker was set to fall further in October, when the Centre for Economics and Business Research expects inflation to further accelerate.
The energy price cap for the average household increased at the beginning of this month, contributing to an expected spike in price growth.
In response, customers are increasingly turning to energy-saving products to try and keep their bills in check.
Asda has seen a 320% increase in air fryer sales year-on-year while sales of slow cookers have more than doubled and sales of heated airers were 90% up compared to last September.
Those living in the South East saw the sharpest drop in discretionary income, with families in that region £212 a month worse off compared to this time last year.
