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READ MOREUK consumer spending drops as inflation hit intensifies
British consumers' spending on credit and debit cards fell sharply over the past week and other measures of their behaviour were either stable or declined, weekly data collated by the Office for National Statistics showed.
Credit and debit card spending - which is based on Bank of England CHAPS interbank payment flows, and is not seasonally or inflation adjusted - was seven percentage points lower in the week to Aug. 11 than in the previous week and stood at 97% of its level in February 2020, just before the COVID-19 pandemic.
Read more at Reuters
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