Consumer Trends, Q3 2014

24th December 2014

In Q3 2014, household spending (adjusted for inflation) grew by 0.9% (£2.5 billion).

The main contribution to growth can be seen in 'Transport' which has increased by 2.9% compared with Q2 2014. The largest negative contribution to growth can be seen in 'Miscellaneous goods and services' which has fallen by 0.5% compared with Q2 2014.

Household spending in volume terms, increased to £259.0 billion in Q4 2007, falling to £244.1 billion in Q2 2009. It has now increased to £261.6 billion, the highest volume spending since the start of the series. Volume spending for the latest two quarters has exceeded the previous high in Q4 2007.

Household spending when compared with the same quarter a year ago has been rising each quarter since Q3 2011, it was 2.5% higher in Q3 2014, when compared with Q3 2013.

The current price value of household spending, which includes inflation, shows how much UK households spent. In Q3 2014 current price spending increased by 1.6% compared with Q2 2014, continuing the trend of positive quarterly growth since Q3 2009.

The household expenditure implied deflator grew by 0.7% in Q3 2014. Within household spending categories the 'Miscellaneous goods and services' implied deflator showed the largest increase in percentage terms, growing by 2.2% in Q3 2014.

Source - Office For National Statistics