Consumer confidence rises slightly following signs of Iran ‘de-escalation’
Younger consumers helped lift expectations, but 82% still fear higher food prices and 83% expect energy bills to rise, BRC and Opinium said.
- Consumer confidence saw a slight improvement this month, though it remains firmly in negative territory at minus 48, according to British Retail Consortium and Opinium data.
- BRC chief executive Helen Dickinson said consumer confidence saw a slight lift this month following signs of de-escalation in the Middle East.
- Younger consumers drove this improvement in expectations for the economy and household finances, with confidence in personal finances rising to minus 16 from minus 21.
- Cornwall Insight predicts Ofgem's energy cap will rise 13% for a typical household from July, as energy prices continue pushing up retailer costs.
- The outlook remains fragile as inflation rises; 82% fear Middle East conflict will increase food prices, while 83% worry about higher energy bills.
11 Articles
11 Articles
Slight Improvement In Consumer Confidence, But Prospect Of Higher Prices Still A Major Concern
Consumer confidence, while still firmly negative, improved slightly in May following signs of de-escalation in the Middle East. However, the outlook remains fragile amid concerns about a spike in inflation in the coming months. The latest BRC-Opinium sentiment tracker, which (more…) The post Slight Improvement In Consumer Confidence, But Prospect Of Higher Prices Still A Major Concern appeared first on KamCity.
Consumer confidence shows slight rise
Consumer confidence edged up in May amid signs of de-escalation in the Middle East, according to the latest data published today (May 21), prompting calls for the government to “act now” to sustain the momentum. According to BRC-Opinium data, consumer expectations over the next three months of the state of the economy improved at -48 in May, up from -53 in April. Their personal financial situation improved to -16 in May, up from -21 in April whi…
High prices keep consumer confidence fragile despite May uplift
Consumer confidence improved slightly in May, although high prices remain firmly on shoppers’ minds as more than four in five people expect food and energy costs to rise. New BRC-Opinium data shows expectations for the UK economy over the next three months rose to -48 in May, up from -53 in April. Consumers’ expectations for their own personal finances also improved, rising to -16 from -21 the previous month. Retail spending expectations edged u…
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