The High Street boom showed signs of easing during February as the growth rate of consumer spending slowed, figures showed yesterday.

The Credit Card Research Group (CCRG) said consumers spent £9.46 billion on credit and debit cards on the high street last month, more than 5 per cent up on February 2002.

But it added that while plastic spending was continuing to increase, the rate of growth had slowed from about 20 per cent during 2002.

At the same time, credit and debit card spending on services was much stronger than a year ago at £8.09 billion, 18 per cent higher than February 2002's £6.83 billion.

But the group said the rise was largely attributable to price increases.

CCRG director Steve Round said: "Consumer confidence went a long way to keeping the economy afloat in 2002.

"A concern about the approaching war and continued discussion of an economic slowdown appears to have dampened this confidence somewhat at the start of 2003.

"Overall, consumers are still spending, and they continue to migrate towards plastic as a means of doing this.

"But we may have seen the end of spend, spend, spend on the High Street for the foreseeable future."