UK household spending falls for first time since 2013

Pressures from rising prices and political uncertainty see drop in spending across clothing, household goods, food and transport

Squeezed British households have cut back their spending for the first time in almost four years, according to figures that underscore the pressures from rising prices and political uncertainty.

Visa, the credit and debit card processing business, said its vast database of spending patterns shows there was a drop in spending across a broad range of categories last month, including clothing, household goods, food and transport.