Cost of living crisis: Shoppers ‘put brakes’ on spending as consumer confidence dips
Sky News says the soaring cost of living has seen consumers “put the brakes” on their shopping habits, new figures show.
The latest retail monitoring from BRC-KPMG revealed sales dipped in April after a sharp downturn in consumer confidence.
And separate figures from Barclaycard showed credit card spending on retail and eating out slowed last month as people tightened their belts.
Helen Dickinson, chief executive of the British Retail Consortium (BRC), said the rising cost of living had “crushed consumer confidence and put the brakes on consumer spending”.
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