In Britain, people return to cash to manage their household budgets in cost-of-living crisis

Post Offices in the UK are handling record cash withdrawals as consumers turning to cash to control their spending.

Households in the UK face bleak prospects as the Bank of England last week forecast that the nation would be in a recession for more than a year under the pressure of soaring inflation.

The pandemic brought a shift toward digital payments, but now it seems more and more consumers are turning back to cold hard cash to help budget during the cost-of-living crisis.

Britain’s Post Office, which has 2,700 ATM locations across the country, said its branches handled a record £801m (€948m) in cash withdrawals in July. That’s up almost 8% compared to June and 20% from the same period last year.