Cost of living: Pound hits new 37-year low on recession fears after dive in retail sales

It has added to fears that plunging consumer spending - the main engine of the UK economy - will tip the country into recession.

Retailers will be hoping that the government's energy price guarantee, which will limit bills through a cap on wholesale prices from October, will ease some of the pressure on purse strings heading in to the core Christmas season.The Truss plan: Economy, energy and NHS

Companies should pay a decent wage and the Government should seriously do something about the energy crisis instead of making things all lovely for the bankers

uncleprober It's not 'reining in spending', it's being unable to afford to buy even the bloody basics.

No surprise at all - people just haven't got the money for food anymore, never mind anything else. Only 'luxury' I've spent on in the last couple of weeks is a couple of meals out - and that's more out of worry that within months those pubs will be forced to close.

Christmas is about celebration not excessive spending

The big companies recorded big profits over covid lockdowns and didn't pass any on to the teams who worked through it just insulting bonus payments not reflective of shareholder rewards .

A dive in sales, what a shock! The forced recession/currency reset plan is taking hold

My Xmas lights this year.

That’s because they have massive energy bills to pay, before they can even think about spending for Christmas. The govt. has a lot to answer for. The Tory Scrooges want us to go back to Dickensian-style poverty.

That surely will bring the inflation rate down . Interest rates ought to go up and that will also contribute.

I'm sure the huge gains caused by scrapping the cap on bankers' bonuses will cover this.

And remember folks these are the people who sold Brexit to you

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