By Anna Ellis • 12 January 2023 • 16:02
Consumer card spending grew 4.4 per cent year-on-year in the UK during December which is slightly higher than November (3.9 per cent) but well below the 9.3 per cent rise in consumer price inflation.
Hospitality and travel received a boost from Christmas parties, the FIFA World Cup and 2023 holiday bookings, while the cold snap saw growth in utilities spending climb even higher, and postal strikes hampered online retail meaning shoppers headed to the high street for last-minute gifts.
Data from Barclays, which sees nearly half of the nation’s credit and debit card transactions, reveals that spending on essential items increased 5.1 per cent in December 2022, though this was slightly lower than November’s year-on-year growth (7.1 per cent), with spending on fuel seeing its smallest rise (10.6 per cent) since March 2021, as petrol and diesel prices continued to fall.
Supermarket spending remained in growth (up 5.5 per cent) however this was lower than the 6.5 per cent growth observed in November. Food and drink specialist stores also fell back into decline (-0.2 per cent) a possible sign that shoppers had already stocked up on festive food and drink, making the most of discounts and deals offered in the run-up to Christmas, while also looking to get ahead of any supply chain issues.
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Originally from the UK, Anna is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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