Consumer sentiment in the UK reached a two-year peak in January, based on survey results released by market research group GfK on Friday.
The consumer sentiment index advanced to -19 from December's -22, marking the highest value since January 2022.
The survey indicated that households' outlook on personal finances saw an improvement in January. The related index rose by two points, bringing an end to a 24-month string of negative results.
Households' evaluation of their past financial situation and perception of the past and future macroeconomic situation also showed strengthening in January. Despite the persisting cost-of-living issues affecting swathes of UK households, consumers seem to be inspired by the optimistic reports of falling inflation, according to Joe Staton, Client Strategy Director at GfK.
