UK consumer confidence, as measured by GfK, fell 11 points to minus 24 in October, its sharpest drop since July 2016 excluding the pandemic, with gloom deepening especially over the economic outlook. High global oil prices from Donald Trump's Iran war have pushed up fuel and household energy costs, with Brent crude hitting $112.68 a barrel, a five-month high. Wage growth slowed to 4.5 per cent, the weakest since 2021, while inflation rose to 3.5 per cent, an 11-month high, and is expected to reach 4 per cent in the new year. Job vacancies fell below 700,000, a 12-year low, and national debt rose above £3 trillion for the first time, while ten-year borrowing costs are near 19-year highs, leaving Chancellor John Healey with limited room to support households before the coming Budget.
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Original headline: Extraordinary collapse sees consumer confidence suffer biggest slump in a decade
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|---|---|
| Close on 10/22/2026 | 1.34003 |
| Change that session | +0.04% |
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