UK consumer spending fails to keep pace with inflation: surveys
LONDON, Dec 6 (Reuters) - British consumer spending ticked up last month at a rate that greatly lagged behind inflation, according to surveys on Tuesday that underscored the pressure on household budgets ahead of the Christmas holidays.
Barclaycard said spending on its credit and debit cards rose 3.9% year-on-year in November, far behind the annual 11.1% increase in consumer prices in October that was the highest reading in 41 years.
Some 94% of Britons surveyed by Barclaycard said they were concerned about the impact of soaring household energy bills on their personal finances.
"Cut-backs are affecting non-essential spending on clothing, department stores and restaurants. Many Brits intend to reduce festive spending on presents and parties in an effort to save money," said Esme Harwood, director at Barclaycard.
Separate data from the British Retail Consortium (BRC), covering spending in shops only, showed a 4.2% annual increase in sales after a 1.6% increase in October, driven by expenditure on food.
"Sales picked up as Black Friday discounting marked the beginning of the festive shopping season. However, sales growth remained far below current inflation, suggesting volumes continued to be down on last year," said BRC chief executive Helen Dickinson.
Last month Tesco TSCO.L , Britain's biggest supermarket group, said Britain's worsening cost-of-living crunch has led to a sharp rise in the number of shoppers looking for "reduced to clear" food.
Reporting by Andy Bruce. Editing by Andrew MacAskill
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。