Almost half the families polled in a survey had their income cut in the past year.
Forty-six per cent of the 347 families polled by the Democratic Alliance for the Betterment of Hong Kong said household income had fallen due to unemployment, pay cuts and sluggish business for the self-employed.
About 60 per cent of respondents said they had spent more than 20 per cent less on clothing, food and entertainment than they had last year.
Seventy-two per cent of 385 people in another survey by the party spent less on clothing, 48 per cent spent less on food and 59 per cent less on entertainment.
More than half the families polled felt their living standards had worsened.
DAB legislator Gary Cheng Kai-nam said that with families tightening their belts, the overall power of the consumer would be harmed further.
