Leisure costs soar but disposable income falls

| May 1, 2012 | 0 Comments
Leisure costs soar but disposable income falls

The cost of the majority of leisure activities has grown to its highest level for a decade while the amount of income people have left after paying all their bills is falling.

According to new research by the Halifax, the cost of football tickets, train tickets, petrol, eating out and going to the gym have all soared since 2002.

Gardening is the activity which has been least affected by price rises, having increased by 17 per cent over the last decade.

In contrast, the average price of a Premier League football ticket has gone up by 184 per cent to £48.90, compared with £17.22 in 2002.

The price of train tickets has increased by 61 per cent on average over the same period, petrol now costs 89 per cent more and the cost of eating out has increased by 42 per cent.

Going to the gym and the cinema now cost 48 per cent and 46 per cent more respectively than they did in 2002.

In comparison the rate of consumer prices index (CPI) inflation has increased by 29 per cent over the same period.

Meanwhile the amount of disposable income has fallen to £144 a week for the average family, making it even more difficult for families to afford leisure activities.

According to the latest figures from the Asda Income Tracker, family spending power fell by £10 a week in March.

Household incomes are under pressure from high inflation, high unemployment, and wage freezes or low wage rises.

Charles Davis Head of Macroeconomics, Cebr, said: “While growth in the price of essentials is likely to fall back slowly this year, the current tough conditions in the UK labour market look set to prevail.

“Average earnings growth is expected to trail inflation over 2012, keeping pressure on household incomes.”


Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply

Visited 1529 times, 4 so far today