LONDON, April 2026: UK consumer confidence fell sharply in April, reaching its lowest level since late 2023 as households braced for rising inflation and higher fuel costs. Fresh survey data from market research firm GfK highlights growing economic anxiety nationwide.
The UK consumer confidence April 2026 reading dropped to -25, down from -21 in March, matching economist expectations in a Reuters poll. The decline reflects mounting pressure on household budgets amid renewed price concerns and global uncertainty.
UK consumer confidence fell to -25 in April 2026, its lowest level since October 2023, as rising fuel prices and inflation fears weigh on households. According to GfK, 85% of consumers expect prices to rise in the next 12 months, signalling worsening cost-of-living pressures.
The GfK index, one of the longest-running measures of UK consumer sentiment, showed broad deterioration across nearly all categories. All major survey components declined in April, including expectations for personal finances and the broader economy. The only exception was the major purchases index, which remained unchanged.
Neil Bellamy, Consumer Insights Director at GfK, said rising living costs are the main driver behind the drop. “Everyone is grappling with rapid price rises, especially at the fuel pumps, which are taking a dent out of household budgets,” Bellamy noted.
The latest figures mark the weakest sentiment since the UK experienced a short recession in the second half of 2023, a period characterised by double-digit inflation. A key factor behind the decline in confidence is the surge in inflation expectations among UK households.
GfK reported that 85% of consumers expect prices to rise over the next 12 months, up from 79% in March. This is the highest level since November 2022, when inflation was still in double digits.
Separate business surveys released the same day indicate that companies are also facing rising costs. These surveys showed record increases in price indicators, suggesting inflationary pressures may persist.
Economists often view rising inflation expectations as a warning sign because they can become self-fulfilling, influencing spending behaviour and wage demands.
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UK consumers expect higher inflation due to rising fuel prices, higher business costs, and global geopolitical tensions. According to GfK, 85% of households anticipate price rises, reflecting concerns about sustained cost pressures.