UK Consumer Spending Slows in February Amid West Asia Tensions and Inflation Fears: Survey Reveals
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UK Spending Slows in Feb: West Asia Tensions Fuel Inflation Fears, Dampen Confidence
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Firstpost•10-03-2026, 13:07
UK Spending Slows in Feb: West Asia Tensions Fuel Inflation Fears, Dampen Confidence
•UK consumer spending grew modestly in February, with card spending up 1.1% year-on-year, slightly higher than January but still subdued.
•Households became more cautious due to concerns that escalating West Asia tensions could increase inflation and energy costs.
•Confidence in the UK, European, and global economies weakened, with four in five respondents worried about rising inflation.
•Consumers took precautionary steps like cutting energy use, saving money, and postponing major purchases, despite a six-month high in non-essential spending.
•British Retail Consortium data showed retail sales growth slowed to 1.1% in February, impacted by adverse weather and online non-food sales decline.
