Inflation driven by rising food, energy, and rent or mortgage costs are hitting households’ disposable income, a report says UK consumers intend to reduce their non-essential spending this year amid concerns about the burgeoning cost-of-living crisis, a survey by the consulting company KPMG has shown. Almost two-thirds of the 3,000 consumers polled said they were preparing to reduce spending on eating out, holidays, and other non-essentials due to the highest inflation in forty years. Families are most concerned about the prices of basic items, such as food, energy, fuel, and mortgage or rent costs, KPMG said.
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