Retail sales fell by a per cent in December as shoppers cut back on spending as a result of increased prices and affordability concerns.
It’s evident that rising costs are taking their toll on UK consumers, as a recent report by NerdWallet discovered that almost half of Brits admit to currently being in debt, with the cost of the living crisis being the biggest concern for 44 per cent of consumers.
A further 39 per cent of consumers currently in debt are most concerned about paying for energy bills, and 26 per cent worried about their general financial situation.
