Hot weather and high fuel prices drive consumer spending up in August
Consumers spent an extra 4.5 per cent year-on-year in August, driven by hot weather and high food and fuel prices.
Spending on petrol climbed to 10.9 per cent, while there was a five per cent increase in supermarket spending.
Brits also flocked to pubs to enjoy the last of summer, spending 11.9 per cent more there than they did last year, according to figures from Barclaycard, which monitors half the country's card transactions.
The research, which compares spending from 22 July to 18 August with the same period last year, also found that some sectors could be hit over the coming months as people mitigate their summer splurging, with over 13 per cent of consumers intending to cut back on entertainment, including restaurants and nights out.
Garden centre sales fell away towards the end of summer after benefiting from the UK's sunny spell, and the clothing sector, which normally sells winter apparel in August, also saw slow growth.
Driven in part by worries that disposable incomes could be hit by inflation and rising energy prices, a third of Brits want to spend less this autumn.
Barclaycard director Esme Harwood said: “Brits have been feeling confident enough in their spending power to enjoy summer events and evenings out. However, it’s clear they’ve struck a balance between spending on essentials and treating themselves.
“Looking ahead, it appears that many consumers are planning to tighten their belts and keep a closer eye on their finances after spending more than usual over summer.”
Overall, spending on essentials increased by 6.9 per cent, with non-essential spending up 3.4 per cent.