High Inflation Is Eroding UK Consumer Confidence, Survey Finds

High Inflation Is Eroding UK Consumer Confidence, Survey Finds

A majority of Britons expect the economy will get worse this year amid a resurgence in inflation, according to a survey that heaps fresh pressure on Chancellor of the Exchequer Rachel Reeves ahead of her autumn budget.

High inflation weighing on consumer confidence

Confidence among Millennials fell dramatically this month, as their expectations for both the economy and their own finances fell by double digits. According to BRC-Opinium data, consumer expectations over the next three months show the state of the economy worsened to -36 in September, down from -32 in August. Their personal financial situation slightly worsened to -7 in September, down from -6 in August. Their personal spending on retail rose …

High inflation is eroding UK consumer confidence: survey

The bigger backdrop to Britain’s struggling economy is two decades of stagnating living standards, according to a report