Based on the government's forecast from November 2023, the real household disposable income per capita in the United Kingdom fell by 2.2 percent in the 2022/23 fiscal year, the biggest fall in living standards since 1956 when this type of data was first produced. Living standards are also expected to fall in 2023/24, and 2024/25, before starting to rise in 2025/26.
Forecast of annual change in real household disposable income per person in the United Kingdom from 1956/57 to 2028/29
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Office for Budget Responsibility. (November 15, 2023). Forecast of annual change in real household disposable income per person in the United Kingdom from 1956/57 to 2028/29 [Graph]. In Statista. Retrieved May 09, 2024, from https://www.statista.com/statistics/1070120/real-household-disposable-income-per-capita-change-forecast-united-kingdom/
Office for Budget Responsibility. "Forecast of annual change in real household disposable income per person in the United Kingdom from 1956/57 to 2028/29." Chart. November 15, 2023. Statista. Accessed May 09, 2024. https://www.statista.com/statistics/1070120/real-household-disposable-income-per-capita-change-forecast-united-kingdom/
Office for Budget Responsibility. (2023). Forecast of annual change in real household disposable income per person in the United Kingdom from 1956/57 to 2028/29. Statista. Statista Inc.. Accessed: May 09, 2024. https://www.statista.com/statistics/1070120/real-household-disposable-income-per-capita-change-forecast-united-kingdom/
Office for Budget Responsibility. "Forecast of Annual Change in Real Household Disposable Income per Person in The United Kingdom from 1956/57 to 2028/29." Statista, Statista Inc., 15 Nov 2023, https://www.statista.com/statistics/1070120/real-household-disposable-income-per-capita-change-forecast-united-kingdom/
Office for Budget Responsibility, Forecast of annual change in real household disposable income per person in the United Kingdom from 1956/57 to 2028/29 Statista, https://www.statista.com/statistics/1070120/real-household-disposable-income-per-capita-change-forecast-united-kingdom/ (last visited May 09, 2024)
Forecast of annual change in real household disposable income per person in the United Kingdom from 1956/57 to 2028/29 [Graph], Office for Budget Responsibility, November 15, 2023. [Online]. Available: https://www.statista.com/statistics/1070120/real-household-disposable-income-per-capita-change-forecast-united-kingdom/