Belfast Telegraph

Consumer spending up by 4.4% in May

Britons saw their spending power increase in May despite further price hikes to the cost of essentials, research has indicated.

Year-on-year spending power was up by 4.4%, more than reversing the .3% dip in April, and continuing the trend seen in the first quarter of the year, according to Lloyds TSB. Earnings growth was the main factor driving the improvement, with people's incomes an average of 3.9% higher than they had been in May last year.