Disposable income drops £2,500 in a year, says uSwitch
www.moneynews.co.uk > General finance > Disposable income drops £2,500 in a year, says uSwitch
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Money News |
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Disposable income drops £2,500 in a year, says uSwitch
Tue 26th Aug 2008
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The comparison and switching website said disposable income is now at its lowest level since 1997.
According to its findings, the "real" rate of inflation in essential living costs, with increases in food, fuel and energy, amounts to eight per cent.
In addition, the research found that the number of people earning less than 40 per cent of the national average household income is 5.6 million (one in seven people) - its highest since 1979.
The average UK house price has also dropped from £181,810 in 2007 to £174,514 in 2008, with time taken to sell at its longest (ten weeks).
Polling organisation GfK is expected to announce a further drop in consumer confidence on Friday.
Higher living costs and rising unemployment are expected to be the causes, according to Thomson Reuters.
It could be a sign that the economy will contract in the third quarter of 2008.
Related News : General finance |
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