Household spending has fallen at the fastest rate in four years as the effects of the lower value of the pound and subsequent rising import costs continue to take hold. Spending fell by 0.3% between April and June when compared to the same period the previous year, with spending on household goods in particular, down by 3.4% in June compared with a year earlier. Kevin Jenkins, UK and Ireland managing director at Visa commented on the data saying that, “June data provides further evidence that an increase in the cost of living, coupled with slowing wage growth, are beginning to squeeze household disposable income.”