The Latest Breaking News from Esme Harwood

’Surge pricing’ means customers are charged higher prices when they need the item the most

Some 47% have noticed a growing trend of retailers adjusting their prices in response to supply and demand, Barclays found.

Total UK retail sales increased by 3.9% last month, below the three-month average growth of 4.7%, according to the BRC-KPMG Retail Sales Monitor.

Consumers reduce spending on groceries, clothes and eating out as they seek to balance budgets

Spending on digital content and subscriptions was up 4.1% – its highest year-on-year rise in five months, Barclays found.

The sectors that contributed most to the boost in spending were travel agents and airlines, as Brits rushed to book holidays after Covid restrictions lifted

Debit and credit card spend grew this year

The sectors that contributed most to the boost in spending were travel agents and airlines, as Brits rushed to book holidays after Covid restrictions lifted

Two surveys show extent of cost of living crisis as businesses enter what should be most profitable period