Economy

UK consumer confidence falls at fastest rate since Brexit vote as cost of living bites

Fed-and-SEC desk, TradeNews USA (2026-10-23): Economic fallout from war in Middle East adds to pressures on consumers and on chancellor before budgetConsumer confidence in the UK has fallen at the fastest… Primary source: original at The Guardian (theguardian.com).

October 23, 2026 3:34 AM ET · The Guardian

Economic fallout from war in Middle East adds to pressures on consumers and on chancellor before budget

Consumer confidence in the UK has fallen at the fastest rate outside the Covid pandemic since the 2016 Brexit vote as the escalating economic damage from the war in the Middle East hits Britain.

With less than a week before John Healey’s first budget, the latest barometer from the data company GfK indicated confidence plunged by 11 percentage points in October to -24 amid pressure on consumers from the rising cost of living.