UK households ‘spent 12% more on essentials in February than year earlier’
Almost four in 10 people have to use credit cards to cover such costs, says Nationwide Inflation and rising bills mean UK households are spending 12% more on essentials than they were a year ago, with almost four in 10 people having to use credit cards to cover these costs, new data shows. Two days […]
UK shoppers slash spending as price rises and energy bills bite
February figures from BRC highlight impact of cost of living crisis on British economy before budget UK consumers sharply cut back their spending in February as soaring living costs damaged household finances, retailers have warned, despite strong sales of jewellery and fragrances for Valentine’s Day. Highlighting the impact of the cost of living crisis on […]
UK demand for mortgages slumps as interest rates deter buyers
Bank of England figures also reveal many households are dipping into savings, rather than using credit cards Demand for mortgages has collapsed to its lowest level since the depths of the 2020 lockdown as potential homebuyers are deterred by rising interest rates, the latest official figures show. The Bank of England said the number of […]