UK consumer confidence taken a hit

New figures shared by the BPC show a sharp seven-point drop in overall confidence during April, taking the index down to -53 – matching the depths seen during the height of the cost-of-living crisis. The fall reflects deepening concerns over where the economy is heading, with almost two-thirds of people expecting conditions to worsen over the next 12 months.

More tax tariffs and price pressure

The gloomy mood comes amid intensifying global tensions and economic pressures. The reintroduction of trade tariffs by the United States, ongoing conflict in Ukraine, and concerns about inflation have all contributed to the sense of unease. Domestically, a rise in taxes and continued price pressures have left many families feeling financially stretched.

Lowest since mid-2023

Confidence in personal finances has also taken a hit. Expectations for household finances over the coming year fell by ten points to -19 – the lowest level seen since mid-2023 – while current confidence dropped by six points to +21. Millions are struggling to keep up with everyday costs, with nearly two million households missing key payments such as rent, mortgage, or utility bills in the month to mid-April.

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