Confidence among UK consumers has declined sharply as British households come under increasing pressure amid the cost-of-living crisis, a new survey has revealed.
The Consumer Confidence Index from YouGov and the Centre for Economics and Business Research (CEBR) fell by 4.2 points in August from 103.0 to 98.8, the largest decline since the early stages of the COVID-19 pandemic.
Both household finance measures—for the last 30 days and the outlook for the next 12 months—dropped by 3.1 points and 10 points respectively.
Every other measure also saw worsening scores, including the outlook for house prices plummeting by 7.2 points to 124.9.
Perceptions of job security looking ahead fell from 120.9 to 118.5….