UK consumer spending rises ahead of annual budget

By Reuters

Oct 09, 2024 12:18 am

LONDON ― British shoppers increased their spending moderately in annual terms last month despite industry concerns about tax rises in Finance Minister Rachel Reeves' upcoming budget and a looming rise in household energy bills, a survey showed on Tuesday.

The British Retail Consortium said spending in shops increased by 2.0 percent in annual terms in September, the strongest uptick since March when it increased by 3.5 percent although less of a rise than the 2.7 percent recorded in September 2023.

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