Card payments in the UK increased in the pre-holidays
2022.12.08 05:26
Card payments in the UK increased in the pre-holidays
Budrigannews.com – The Office for National Statistics reported on Thursday, following the release of a variety of weekly data, that British consumer spending on credit and debit cards increased in cash terms in the early part of December, in line with typical seasonal trends.
According to interbank payment data for major retailers that the Bank of England provided to the ONS, credit and debit card spending in the week leading up to December 1 was 13 percentage points higher than it had been a year earlier.
Separately, according to the ONS, debit card provider Revolut reported that customer spending increased by 17 percentage points over a year ago and by 4 percentage points in the week ending December 4.
The real-terms increase in purchases is smaller because neither set of numbers takes into account consumer price inflation, which was 11.1% in October.
