Data: Consumers ‘slam on the brakes’ as confidence hit by rising living costs
Consumer confidence fell in September with the combination of rising fuel and food prices, supply chain challenges, inflation and the end of furlough stoking fears of a looming cost of living crisis.
Overall sentiment in GfK’s consumer confidence index fell by five points from -8 in August to -13 in September. All measures recorded by the index were down this month compared to August.
Consumers expressed concerns about their personal finances over the next 12 months with the index decreasing by six points, only three points higher than in September 2020.
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