Huddersfield Daily Examiner

We’re big spenders on booze per week

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motoring costs and transport tickets - costs people in the region of £67.40 per week and spending on housing and energy comes to £61.20 per week.

Overall, households in Yorkshire and the Humber spend £489.70 per

week. Households across the UK spent £554.20 in 2016-17, up from £528.90 in 2015-16. That means in real terms, household expenditur­es have returned to pre-economic downturn levels. According to the Government’s Office for National Statistics, after adjusting for inflation, household spending has not been this high since the financial year 2006. Inflation measures the change in prices of goods and services. When inflation rises more quickly - as it did during the last financial year - households can be encouraged to go ahead with certain purchases sooner, which in turn boosts economic growth.

This could be one of the reasons for the higher levels of spending, according to the ONS.

Samantha Seaton, the chief executive of financial website Moneyhub said: “Over the last year household finances have been squeezed left, right and centre, with the price of food, transport, bills, and our other everyday essentials all going up. With real-term wages falling, people are increasing­ly reliant on debt to help them cover the cost of living.

“The latest report by the Institute for Fiscal Studies shows that one in 10 households has more than £10,000 of unsecured debt, whether it’s through loans, credit cards, or finance.”

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