According to a survey by PricewaterhouseCoopers on the 15th, nearly one-third of consumers plan to reduce spending during the New Year holiday due to the continued pressure of high inflation on British residents. By comparison, only 18% of British people plan to spend more money on this year's holiday than last year. About 80% of respondents who plan to reduce expenses attribute the reason to rising food and energy prices, while slightly over 20% believe it is due to mortgage or rent issues.
The survey also showed that despite a slowdown in the UK consumer price index in August, prices remained high, with less than one-third of people reporting good financial conditions for their households. To control inflation, the Bank of England has raised interest rates 14 consecutive times since December 2021, with the benchmark interest rate rising to 5.25%.
(Editor Liu Zihan)