U.K. Consumer Spending Slows as Fuel Prices Climb, Times Says

Consumer spending in the U.K. on items other than gasoline has risen in March at the slowest pace in at least two years because of rising fuel prices, The Times reported, citing MasterCard’s SpendingPulse survey.

Spending rose 0.8 percent last month as consumers were forced to divert more of their earnings to fuel costs for their cars, according to the newspaper. Gasoline prices were 9.8 percent higher in March than a year ago, The Times said.

To contact the reporter on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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