UK Households Cut Spending at Fastest Rate in 18 Months

British consumers pulled back sharply in April, with Barclays — which processes nearly 40% of UK card transactions — recording a 0.1% fall in spending, the steepest drop since late 2024. Fear of a renewed cost-of-living crisis driven by Middle East conflict is the primary culprit, with travel spending hit particularly hard. The data suggests the Iran war's economic shockwaves are already landing on household budgets across Britain.