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

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Reuters UK

By Farouq Suleiman LONDON (Reuters) – 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. 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”. The Bank of Engl…

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