Consumer spending up 4.2%, says Barclaycard

Consumer spending in the UK rose 4.2% in May amid falling prices combined with greater confidence. 

According to the latest monthly spend data analysis by Barclaycard, falling prices in supermarkets helped families boost spending on ‘nonessential’ items, which grew by 6.2% over the period.

Barclaycard said that by spending less on essential items – down 1.4% last month – households were able to spend more on “enjoying themselves”.

Chris Wood, chief operating officer at Barclaycard, said: “With the wider economic context moving in their favour, the clear election result removing some of the lingering uncertainty of how household budgets might fare in the future, and deflation providing further opportunity to cut the cost of essentials, consumers have been quick to make the most of their increased spending power.”