Two thirds (65%) of consumers are worried about the current levels of inflation in the UK, an Ipsos MORI survey for Lloyds Bank has found.
As of August UK consumer price inflation stood at 2.6%.As of August UK consumer price inflation stood at 2.6%.
Robin Bulloch, managing director of Lloyds Bank, said: “Despite a slight slowdown in the rate of essential spending growth over the summer, concerns around inflation have continued to build, which has an impact on future intentions.
“With the rate of savings already at a record low, significantly fewer people now expect to be putting more money aside in six months’ time.
“While the pressure on disposable income makes this understandable, it does mean consumers are less able to absorb any further squeeze on their finances.”