Today, Wednesday 12 February, the Consumer Council released the latest Northern Ireland Household Expenditure Tracker for Quarter 3 2024 (July to September), which tracks changes to income and expenditure for households in Northern Ireland across four income groups (quartiles).
The Household Expenditure Tracker found that Northern Ireland’s lowest earning households have seen their discretionary income fall by 20% since the first quarter of 2021, leaving them with less than £52 per week on average after paying for essentials.
In Quarter 3 2024 (July to September), on average these lowest earning households:
spent 49% of their total basic spending on food, rent, energy, and transport per week
have 6% less income before tax than the UK average
saw their discretionary income rise 3% over the last quarter from £49.95 to £51.45 per week
saw a rise of less than 1% in income after tax over the last quarter from £279.38 to £281.22 per week
The ability of households in Northern Ireland to absorb unexpected bills or price rises differs sharply depending on household income. Northern Ireland’s highest earning households have on average, over 13 times more discretionary income left to spend every week compared to the lowest earning households.
Anne-Marie Murphy, Director of Strategy & Emerging Markets at the Consumer Council, said:
“In July – September 2024, while our lowest earning households saw a small rise in discretionary income this equates to only £1.50 per week, leaving these households with less than £52 on average after spending on basics.
“Food costs represent the highest area of spend for many of our lower income households and the economic climate continues to cause concern. Our latest Pulse Survey showed that more than two in five (43%) of Northern Ireland’s consumers felt that their household was worse off compared to 12 months ago.
“To help consumers, the Consumer Council offers a variety of support and advice including interactive tools to compare energy costs and advice on how to reduce your bills and make your money go further at www.consumercouncil.org.uk.”
You can view the latest Northern Ireland Household Expenditure Tracker here: Q3 2024 Northern Ireland Household Expenditure Tracker | Consumer Council
The Northern Ireland Household Expenditure Tracker is released quarterly and shows what households in Northern Ireland are experiencing financially including changes to their income, expenditure and in which areas they are spending most of their money.
The Tracker complements the Consumer Council’s existing research portfolio, which captures current consumer experiences and sentiment in Northern Ireland across our statutory areas including energy, postal services, transport, water and food affordability and accessibility.
