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Families 'spending less than in 2006'

Written By blogger on Tuesday, December 2, 2014 | 2:14 AM

Family spending rose to £517.30 a week last year - but remains below pre-crisis levels when inflation is taken into account, official figures show.

Housing costs, such as rent and fuel, were top of the expenditure list, overtaking transport costs.

The amount spent per household rose from £501 in 2012, the Office for National Statistics (ONS) said.

But average household spending stood at £539.80 in 2006, after taking the rising cost of living into account.

Overtaken

The Family Spending Survey is compiled every year by the ONS.

It shows that £74.40 a week was spent on average on housing, fuel and power in 2013. This equates to 14% of household spending. However, this figure excludes mortgage interest payments, British council tax or domestic rates in Northern Ireland.

A rise in gas and electricity prices pushed this category to the top of the household spending list in 2013, the ONS said.

The previous big hit for family finances was transport, which fell to second on the list last year at £70.40. Nearly half of this was the cost of running a car, namely petrol, diesel, repairs and servicing.


Families 'spending less than in 2006'

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