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British consumer confidence hit by energy price rises

shoppingcentreConsumers in the UK are spending less in order to meet increased energy costs.

Consumer confidence was reported to be slipping as householders try to cope with higher energy bills.

Confidence has been slowly rebuilding, running at its highest level for six years in the last three months of 2013, but a survey shows that consumers are becoming again more cautious.

In the last two years, an increasing number of people started spending rather than saving. That trend now was begun to change to more people again saving.

Clothes, footwear and takeaway meals were hardest hit, although the month of January is usually associated with post-Christmas savings.

Another study indicated that January had been one of the best for high street retailers, but margins were slim.

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