YouGov: consumer confidence has been knocked by a squeeze on the cost of living


FILE PHOTO: Shoppers walk down Oxford Street, amid the coronavirus disease (COVID-19) outbreak in London, Britain, December 13, 2020. REUTERS/Simon Dawson/File Photo
FILE PHOTO: Shoppers walk down Oxford Street, amid the coronavirus disease (COVID-19) outbreak in London, Britain, December 13, 2020. REUTERS/Simon Dawson/File Photo
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LONDON (Bywire News) - On Monday, a survey by YouGov showed that consumer confidence hit a five-month low in September, due to an increase in inflation and goods shortages households became less confident about their financial situation.

According to YouGov and consultancy company CEBR, the gauge of consumer confidence dropped by 2.3 points bringing it to 110.5, a level which hasn't been seen since April.

The director of reputation research at YouGov, Darren Yaxley, said, "The past few months of rising prices, bill increases and a fuel crisis brought on by labour shortages have decimated Britons' confidence in their personal finances for the coming year."

(Reporting by Andy Bruce; Editing by William Schomberg and Klaudia Fior)

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