Household incomes in the UK fell for the fourth consecutive quarter in early 2022, the biggest drop since the data began in 1955, as the cost of living crisis worsened.
Adjusted for inflation, disposable income fell -0.2% in the first quarter, according to the ONS statistical service.
They fell 1.3% year-on-year, even before tax and energy bills rose in April.
The drop in incomes highlights the difficulty households face in coping with rising prices on everything from energy and food to fuel and clothing.
Prime Minister Boris Johnson is under pressure to do more to help amid warnings that the economy is in recession.
GDP also grew by 0.8% in the first quarter compared to the fourth quarter of 2021, however production is on a weakening trajectory since January.
And the Bank of England now expects a contraction in the second quarter as consumers struggle.
Distinct data showed that the current account deficit widened sharply to 51.7 billion pounds ($ 63 billion) in the first quarter.
The amount corresponds to 8.3% of GDP, which is a record for the quarter. The development is attributed to the dramatic widening of the trade deficit and the shift of 17 17 billion from the surplus to the deficit, to the balance of investment income.
Source: Capital
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