UK disposable income falls to lowest since 1921 - papers

A report by the Centre for Economics and Business Research says the average British family will have £910 less to spend this year than they did in 2009 as a result of Rising food, clothing and energy prices, the Telegraph says. It calculates household disposable income will fall by 2% this year, more than double last year's fall of 0.8%, representing the biggest drop since the post-WWI recession. It also predicts inflation will average 3.9% in 2011, its highest since 1992, as January's VAT increase and the rising cost of oil and other commodities continue to drive up prices. Read m...