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UK consumer spending grows at slowest pace in over a year: Barclays
British consumer spending grew at the slowest pace in more than a year last month, reflecting concerns about the cost of living in the run-up to Christmas, according to a survey released on Tuesday. Barclays said spending on its debit and credit cards between Sept. 24 and Oct. 21 was 2.6% higher than a year earlier, the smallest annual increase since September 2022 and down from growth of 4.2% the month before. Adjusted for consumer price inflation - which was 6.7% in September - the volume of goods and services bought by British shoppers fell. The Bank of England increased interest rates over 14 consecutive meetings ... (full story)