LONDON -- The first quarter of this year saw the largest decline in the United Kingdom's (UK) real household disposable income (RHDI) since 2023, official figures showed on Monday.

According to the UK's Office for National Statistics (ONS), RHDI per head?— a key indicator of living standards?— is estimated to have decreased by 1 percent in the first quarter, following a revised 1.8 percent increase in the previous quarter.

The household saving ratio also fell, dropping by 1.1 percentage points to 10.9 percent during the first three months of the year. The decline was attributed to a reduction in non-pension savings contributions, the ONS said.