Consumer spending jumps 19% Nationwide data shows that consumer spending hit £6.9bn last month, marking a 19% increase on February 2021, with prices being driven up amid the cost-of-living crisis. Spending on fuel and electric vehicle charging rose by 70% year-on-year to £249m in February, while spending of utilities and bills increased 15% to £439m and debt jumped by 23% to £488m. Mark Nalder, the head of payments at Nationwide Building Society, said: “As inflation impacts how much money we can spend and where we are spending it, we expect overall spend to outstrip last year, particularly in areas where the rising cost of living is likely to be having a big impact, such as utilities, bills and fuel.” He added that Nationwide expects many households to curb non-essential spending “as they do their best to balance family finances.”