UK consumer spending rises in December *slower than in Nov.), boosted by lower inflation

Barclays says lower inflation ahead could provide consumers with more spending power in 2024

Data from Barclays on card spending in December:

Consumer spending +2.3% y/y (this is Barclaycard customers spending via credit and debit cards)

Barclays said that part of the fall in the month reflected lower inflation.

"We expect (inflation) to fall further in the opening months of 2024. This puts more spending power in the pockets of UK consumers and should help support them to continue to spend, even against the tough backdrop of weak economic growth,"