This is the largest fall in a month since the beginning of the pandemic.
- -26 is the worst since January 2021 (a month of sever lockdown for the country).
- "Fear about the impact of price rises from food to fuel and utilities, increased taxation and interest rate hikes has created a perfect storm of worries that has shaken consumer confidence," Joe Staton, GfK's client strategy director, said.
- "There's clear anxiety in these findings as many consumers worry about balancing the household books at the end of the month without going further into debt,"
- "Slowing consumer spend slows the wheels of the UK economy so this is unwelcome news,"
The background to the survey is the Bank of England hiking rates (with more expected) and fuel prices rocketing higher.