The last week has seen a number of releases around the increased usage of consumer credit, including card spending and the volume of transactions. Consumer confidence is very low. There is general political uncertainty and some of the proposals made by rival contenders for the Tory leadership are causing concerns in the city, certainly messaging that regulators may be merged.
Inflation in the UK hit a 40-year high of 10.1% in July 2022, according to the Office for National Statistics (ONS). Food and non-alcoholic drinks were the largest contributors to rising prices last month, with energy, petrol and diesel costs also affecting inflation. Fuel costs seem to be slowly coming down.
Ofgem - Energy domestic consumer advice for Autumn/Winter 2022
On 17 August 2022, Energy regulator Ofgem published support guides for bill payers struggling with their energy costs as they continue to rise alongside wider cost-of-living pressures caused by ever increasing inflation ...
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