Household spending hit six-year low in 2017 amid Brexit inflation

Statistics office figures show UK had lowest growth among G7 economies

Household spending slowed to its lowest annual growth for six years in 2017 amid Brexit-fuelled inflation, with borrowing surging and family savings slumping to a record low.

Figures from the Office for National Statistics (ONS) confirmed economic growth slowed to 0.4% in the final three months of last year, down from 0.5% in the third quarter as weaker household spending took its toll.

Related: UK businesses told to expect workforce crisis after Brexit