UK consumer confidence hits lowest point in nearly a year

Business Mar 27, 2026

UK consumer confidence just hit its lowest point in almost a year, mainly because of inflation fears and the ongoing conflict in Iran.
The GfK index fell to -21 this March, showing that people are more anxious about the economy overall, even if their own finances haven't changed much.

Inflation fears, Iran conflict weigh on people's minds

Thanks to a 50% jump in oil prices since late February, gasoline costs are up and so are concerns about future price hikes.
People aren't planning big purchases right now and are saving more instead.
The Bank of England expects inflation to reach 3.5% by mid-2026, with the OECD predicting it could go up to 4% by 2026.
Experts warn that if the conflict drags on and there's little government action, economic growth could take a real hit.