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Consumer confidence at four year high

Consumer confidence in the UK has hit a four year high, according to Lloyds Bank.

A survey conducted by the bank said confidence had reached 147 points in July, the highest level since 2010.

It found that consumer confidence has increased as the cost of essentials has fallen. The price of food and drink fell by 2.5 percentage points in the year to July 31, allowing shoppers to send money on discretionary items.

The Telegraph reports that Philip Robinson, director of personal current accounts at Lloyds Bank, said: “With consumer confidence resuming its steady increase to a new high, and discretionary income improving as essential spend falls, more people are feeling more comfortable about their own finances.”

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