‘As recession looms, how will consumers behave this time around?’

Photo of Bank of England with red line charts overlayed

Leaders must look back at how retail fared in 2008, the last prolonged recession in the UK, for indicators of how spending may play out next year, advises PwC consumer markets leader Lisa Hooker

Inflation at a 40-year high. Soaring food prices. Record utility bills. It has become impossible to pick up a newspaper, switch on the TV or visit a news site without seeing wall-to-wall coverage of the cost-of-living crisis.

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