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

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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. The quarterly survey from the accountancy firm PwC , which measures factors such as consumers’ spending intentions and how well off they feel, recorded a score of -13 in April, a sharp fall from -1 in January and the lowest level since autumn 2023. Rising costs are prompting shoppers to pull back spend across the board, says Sam Waller at PwC UK.…

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