From Yahoo Finance: 2025-04-24 19:01:00

Consumer confidence in the UK has hit a new low due to concerns over rising living costs from Trump’s trade wars. The consumer confidence index fell by four points to -23, the lowest since November 2023. GfK reports a significant drop in expectations for the economy and personal finances, signaling potential weakness in consumer spending.

Trump’s tariffs are threatening global supply chains, leading to warnings of price increases from companies. UK consumer expectations for the economy over the next year fell by eight points to -37. Personal finance forecasts also dropped by four points to -3. Inflation in the UK currently stands at 2.6% but is expected to rise to 3.7% this summer before falling back to the 2% target in the next two years.

Risk of rapidly increasing prices looms as Trump’s tariffs disrupt supply chains. If prices surge, consumer confidence could collapse, eroding gains made since 2022. The UK faces uncertainty as inflationary pressures and global economic turmoil continue to impact consumer sentiment and spending habits.



Read more at Yahoo Finance: UK consumer confidence dips to lowest level since 2023 amid tariff concerns