📈 As household bills continue to mount, spending on utilities jumped 39.6 per cent year-on-year
Although spending at restaurants was down 3.3 per cent compared to June 2021, the category saw a small month-on-month uplift as did bars, pubs and clubs . Takeaways and fast food remain popular too, recording growth of 2.3 per cent month-on-month and 9.4 per cent year-on-year respectively.
Despite uncertainty over potential flight cancellations, travel agents , airlines and hotels, resorts and accommodation all saw monthly growth as holidaymakers booked getaways for the summer.Digital and content subscriptions saw a decline of 4.2 per cent compared to May 2022, as consumers prioritised their spending elsewhere.
Spending on household goods also saw a noticeable drop of 5.1 per cent compared to May 2022 with home improvements and DIY as well as furniture stores seeing month-on-month declines of 7.4 per cent and 2.7 per cent respectively, as Britons held-off purchasing certain discretionary items.of rising household bills on their personal finances.
Consumers are also feeling less optimistic about their ability to live within their means , and their ability to spend on non-essential items . In addition, confidence in the future of the UK economy has decreased slightly to 25 per cent, down from 27 per cent in May.
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