Scots are ‘£12 better off a week’ as cost of living falls

SCOTS are £12 better off a week compared to this time last year as prices continue to fall in the supermarket.

The latest Asda income tracker has found that families are enjoying a mini-boom in their spending power, with household budgets up by 6.8 per cent increase when compared to march 2014.

And drivers are beginning to benefit from falling gas prices, which also helped to drive inflation down to zero last month after falling 4.2 per cent over the year.

Households are also reaping the rewards from promises made by gas companies at the beginning of the year to drop their prices. Overall, the UK continued to enjoy “No-flation” as inflation remained at 0.0, its lowest level in 55 years thanks in large part to the falling cost of clothes and shoes.

The drop in the cost of these items, which fell by 0.2 per cent over the 12 last months, means paying for a summer wardrobe will be cheaper this year.

Andy Clarke, president and CEO of Asda, said: “Wherever you live in the UK this month’s tracker brings more positive news for those holding the purse strings.

“Eighteen months of continuous growth is good news for people living in all corners of the country and seeing this growth rise fastest in areas such as Northern Ireland and The Midlands supports my belief this recovery is real and sustainable. The economy continues to roll on the road of recovery and the gap between regional disparities reduces. But what continues to interest me is the change in spending habits. Speaking to customers, they feel more confident than one year ago but they are still bruised from the recession.”