PZ Cussons has warned that UK consumers are becoming increasingly reluctant to spend big, according to a report published by the Financial Times.

“It is increasingly clear that consumers are shopping cautiously reflecting general cost inflation outstripping wage growth, and broader economic uncertainty,” the UK-based manufacturer of St Tropez and Imperial Leather is reported to have said on Wednesday.

However, the Financial Times points out, PZ Cussons’ ‘tough trading conditions’ are another company’s boom – with the Office for National Statistics revealing that retail sales growth is ‘far ahead’ of expectations and spending on ‘non-essential items’ remains buoyant.