Consumer confidence rises

Consumer confidence has seen a slight increase, with GfK’s consumer confidence index rising by two points in June.

The index remains in negative territory at minus 18, four points lower than last year. Confidence among UK consumers has improved but remains fragile in the face of expected petrol price rises amid escalating conflict in the Middle East.

Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, said “Headline consumer confidence has improved marginally in June, rising two points to -18. This is driven by improvements in how consumers see the general economy, with scores up three points (looking at last year) and up by five points (looking at the next 12 months).”

“Consumers have been resolute in their views on their wallets with June’s personal financial situation scores (past and future) unchanged from May. Yet confidence is still fragile because the dark shadow of inflation is a day-to-day challenge for so many of us. With petrol prices set to rise in the coming weeks following the escalation of the conflict in the Middle East, and with ongoing uncertainty as to the full impact of tariffs, there is still much that could negatively impact consumers. With so much volatility, now is certainly not the time to hope for the proverbial ‘light at the end of the tunnel’.”