Barclays Report: August Card Spending Rises 2.1% Year-on-Year, Lagging Behind 3.1% CPIH Inflation Rate
💳 August saw a 2.1% year-on-year increase in card spending, slightly up from July's 2.0% rise, yet still trailing behind the 3.1% CPIH inflation rate. Both essential and non-essential spending grew by 2.1%, driven by consumer confidence and robust hospitality & leisure performance. Consumer confidence in household finances hit a six-month high at 66% in August, as reported by The Barclays Consumer Spend report.
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