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.


Are Markets Becoming Complacent Again?

Another U-Turn

XAU/USD – Gold Slips as FBI Clears Clinton Over Emails

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.