UK households bracing for new cost of living crisis, report finds

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A PwC survey indicates that UK households are bracing for a new cost of living crisis due to declining consumer confidence linked to the ongoing conflict in the Middle East, particularly the situation in Iran. This decline mirrors previous consumer confidence dips during the inflation spike caused by Russia's invasion of Ukraine.

PwC survey reports fast fall in consumer confidence with people worried about Iran war’s impact on economy and personal finances British households are bracing for a new cost of living crisis, as the impact of the Middle East conflict dampens confidence in the economy and personal finances, a survey has suggested. Consumer confidence in the UK has dipped over the last three months at the fastest rate since June 2022, when inflation in the UK was soaring as a result of Russia’s invasion of Ukraine and the spike in commodity prices. Continue reading...