UK Spending Picks Up as Inflation Concerns Grow

British consumers ramped up their spending last month but some of the increase was due to higher motor fuel prices and concerns about higher inflation are growing, surveys showed on Tuesday.

The British Retail Consortium, representing the retail industry, said spending in shops jumped 2.4 percent compared with a year ago, the strongest annual growth since January and up from growth of 1.3 percent in September.

A separate survey from Barclaycard, the credit card division of Barclays (BARC.L), showed spending on its cards increased 5.5 percent year-on-year – marking the biggest jump since the survey started in 2011.

Reuters

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