FX.co ★ UK Consumer Confidence Declines Sharply in April

In April 2025, the GfK Consumer Confidence Index for the United Kingdom experienced a decrease of four points, dropping to -23. This marks its lowest point since November 2023, driven by heightening concerns over the surging expenses associated with living costs and intensifying global trade tensions. The outcome was less favorable than the market had anticipated, which was -22. The segment of the index that evaluates economic expectations for the coming year saw a significant decline, plummeting eight points to -37, the poorest result since March 2023. Simultaneously, the index reflecting consumers' views on their personal financial circumstances fell by four points to -3. Neil Bellamy, the Consumer Insights Director at GfK, attributed this downturn to "a series of cost increases in April" impacting households. These included notable rises in energy, water, and telecom bills, as well as increases in stamp duty, council tax, and road charges. Bellamy further highlighted that consumers are growing increasingly concerned due to "grim warnings of a potential resurgence in high inflation," driven in part by the impact of the Trump tariffs.