Consumers' spending cutbacks in the UK 2022
In the last three month leading to June 2022, 35 percent of UK consumers bought cheaper items, eaten out less or reduced their energy consumption as a response to the rising cost of living and inflation. A further 28 percent of the participants stated that they drove less due to increasing petrol prices, or they went to cheaper grocery stores. Overall, around two-thirds of UK consumers cut back on their spending during this period.