Growing worries over energy bills, food costs and tax hikes prompted a hefty drop in British consumer confidence this month as people became more downbeat about the economic outlook, a survey showed on Friday.
The GfK Consumer Confidence Index fell to -13 in September from -8 in August, the lowest reading since April and the biggest monthly drop since October 2020, when a surge in COVID-19 cases led to renewed lockdown restrictions.The readings come a day after the Bank of England said the case for higher interest rates "appeared to have strengthened" after it nudged up its forecast for inflation at the end of the year to over 4%, more than twice its target rate.
"All measures have declined this month and consumers are clearly worrying about their personal financial situation and the wider economic prospects for the year ahead," said Joe Staton, client strategy director at GfK.Other surveys have also pointed to an unhappy mix of slowing economic growth and mounting cost pressures for both members of the public and businesses.
Consumer prices rose last month by 3.2% in annual terms - the highest such rate in more than nine years.Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In U.N. climate push, UK PM disputes Kermit: 'It is easy to be green'British Prime Minister Boris Johnson pushed the world to 'grow up' and tackle climate change during his annual United Nations address to world leaders on Wednesday and contradicted Muppets character Kermit the Frog by saying: 'It is easy to be green.'
Read more »
Jen Psaki blames U.K.'s Boris Johnson for White House reporter chaosSeveral White House reporters complained about aides shouting them down as they tried to ask questions.
Read more »
'Grow up': U.K.'s Boris Johnson says world must face climate changeBritish PM Johnson tells world leaders at the UN that humanity has to “grow up” and tackle climate change, saying humans must stop trashing the planet like a teenager.
Read more »
UK working to tackle driver shortages as industry warnings mountBritain is working on a number of options to tackle the shortage of truck drivers, including luring former employees back to the market, amid warnings from the food industry that supply chains could break down in the run up to Christmas.
Read more »
U.K. family resolve civil claim against U.S. diplomat's wife over crashThe family of a British teenager killed in a car crash involving a U.S. diplomat's wife say they have reached a resolution in a civil damages claim over the 2019 accident.
Read more »
BP closes UK gas stations due to truck shortagesOil company BP said on Thursday it had temporarily closed some of its petrol forecourts in Britain after its ability to transport fuel from refineries was hit by an industry wide shortage of truck drivers.
Read more »