The UK Consumer Spending Index released figures from January, which suggest that overall spending was down at the start of the year. E-commerce remained the best performing sales channel however overall numbers slowed down to a growth of only 0.4% compared to 2.5% in December. Face-to-face spending saw a reduction of 3.1%, suggesting consumers were tightening the purse strings in the month. The rise in inflation and falling value of the pound were considered major contributors to the decline. Clothing and footwear felt the economic slowdown the most, with sales reducing by 3.8%.