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MNI BRIEF: UK Real Household Incomes In 4 Quarter Decline

(MNI) LONDON
(MNI) London

UK real household disposable income fell by 0.2% in Q1, the Office for National Statistics said Thursday, as nominal households' gross disposable income grew but was offset by quarterly household inflation.

this is the fourth straight quarter of real negative growth in disposable income, with household quarterly inflation (1.7% on the ONS deflator) the highest since Q1 2011, when it was 2.4%. The household saving ratio remained unchanged at 6.8% in Quarter 1 2022.

It is the first time on record real disposable incomes have fallen for 4 consecutive quarters since records began in 1955. The longest previous run was 3 quarters from Q4 1976 to Q2 1977. The decline in disposable income helps explain in part the slump in consumer confidence in recent months (MNI INTERVIEW: Darker Days Ahead For UK Consumer- GfK's Staton).

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Private sectorDataPolicy NewsFiscalData StoriesData BriefCEEMEABank Of England (BOE) Market NewsUKStoryRegion
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Private sectorDataPolicy NewsFiscalData StoriesData BriefCEEMEABank Of England (BOE) Market NewsUKStoryRegion
True

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