Clifford Beaumont: UK consumer spending at 13 year low in October as BoE increases rates for first time in more than a decade.

UK consumer spending dropped at its most accelerated rate in more than a decade. The last October to see consumers restrict spending as much was October 2008.

With inflation rising, consumers drastically reduced their purchases of non-essential and non-food goods according to a recent survey by Taipei, Taiwan-based investment boutique, Clifford..

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