Two-thirds of UK consumers plan to cut non-essentials in 2023

Cost of living crisis forcing families to cut back on eating out, holidays and other discretionary items, survey finds

Two-thirds of UK consumers are planning to cut their discretionary spending in 2023 amid concerns about the cost of living crisis, according to a survey.

Highlighting the pressure on families and the wider economy from inflation, the accountancy firm KPMG said 61% of consumers in a poll of 3,000 were preparing to reduce their spending on eating out, holidays and other non-essentials.