As prices rise, the Post Office says Britons are turning back to cash

More Britons are turning to cash to manage their budgets as prices soar, the Post Office said on Monday after it saw a record level of withdrawals over its counters in July.

by | 8 Aug, 2022

Personal cash withdrawals rose almost 8% month-on-month to 801 million pounds ($967 million), it said, noting it was only the second time they had exceeded 800 million pounds after December 2021.

With British inflation hitting a 40-year high of 9.4% in June, the Post Office said more Britons were opting to use cash to manage their budgets “often on a day-by-day basis”.

Read more at Reuters

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