Shoppers say they are concerned about rising food prices and are seeking ways to cut back spending. However, spending on digital content and subscriptions was up in March.
UK households cut back on food shopping and eating out in March but splashed out on subscriptions to TV streaming services to catch new seasons of popular shows, data suggests.It comes after the consumer prices index measure of
, up from 10.1% in January, and driven by a rising cost of food and alcoholic drinks in pubs and restaurants.According to the Barclays report, which combines hundreds of millions of customer transactions with consumer research, spending on groceries increased 7.1% - as 88% of shoppers said they were concerned about rising food prices and 62% reported finding ways to reduce the cost of their weekly shop.
More than half of those looking for savings - 53% - said they were cutting down on luxuries or one-off treats, while 38% said they were planning meals in advance to avoid food waste, or using vouchers to get money off their grocery bill. Home improvement and DIY stores enjoyed a seasonal boost according to the report, while spending on digital content and subscriptions was up 4.1% - its highest year-on-year rise in five months.
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