LONDON, March 5 (Xinhua) -- Household income in Britain has stalled between financial year ending 2017 and 2019, rising by less than 0.5 percent per year, an official report revealed Thursday.
The Office for National Statistics (ONS) said median household disposable income in Britain was 29,600 pounds (38,240.5 U.S. dollars) in financial year ending 2019, based on estimates from the ONS Living Costs and Food Survey.
Median income stalled between financial year ending 2017 and 2019, growing on average by 0.4 percent each year, compared with a growth of 3 percent each year between financial year ending 2013 and 2017, said the ONS.
The study also disclosed that median income for the poorest fifth of people in Britain fell by 4.3 percent each year over the two years up to financial year ending 2019, following average annual growth of 3.4 percent over the four years leading up to 2017.
The fall in median income of the richest fifth of people by 0.4 percent per year between 2017 and 2019 means that despite average annual growth of 1.7 percent per year in the previous four years, their income remains below what it was before the economic downturn in 2008, the ONS reported.
