The average amount that people spent on utilities increased by more than a third in May compared to a year ago, new data from Barclaycard revealed. The insights also show that people are giving up their online subscriptions as the cost-of-living crisis unfolds and they are forced to spend much more on basics.
People spent 9.3% more on their cards in May compared to the same period a year earlier, both due to the cost of living and restrictions on travel and hospitality this time last year. April’s massive spike in the energy price cap showed in May’s spending figures. Barclaycard customers ended up spending 34.5% more in May on utilities than they had a year ago.
According to a survey, four in 10 are looking for ways to use less energy and water in their homes. To help offset rising costs, a fifth say they are reviewing their subscriptions. And this is borne out in the data too.
-copy-29e15046.jpeg?w=600)
