Household budgets continue to tighten amid rising inflation

Spending on utilities jumped 39.6% year-on-year, representing a 5.1% increase month-on-month (34.5% in May), and leading 44% of Brits to cut back on their energy and water consumption to keep costs down

Data from Barclaycard has revealed that spending on essential items increased 4.4%, which has been largely driven by a surge in fuel spend (up 24.8%) as petrol and diesel prices continued to climb.

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