A closely watched UK consumer confidence survey has registered its biggest month-on-month drop in more than three years, as households contend with surging mortgage and rental costs, and higher petrol prices.
The GfK consumer confidence index — a measure of how Britons view their personal finances and broader economic prospects — fell nine points from minus 21 to minus 30 in October, the research group said on Friday.
The reading — the largest monthly drop since March 2020, when the government introduced strict Covid-19 curbs — reversed rises in August and September. Economists polled by Reuters had forecast a slight increase to minus 20.