UK Consumer Confidence Hits Record Low Amid Soaring Cost of Living

Members of the public walk along Oxford Street in London, England, on April 1, 2022. Dan Kitwood/Getty Images

Consumer confidence in the UK has hit a new record low amid soaring cost of living and bleak economic prospects, according to business intelligence firm Growth from Knowledge (GfK).

The firm’s Consumer Confidence Index fell three points in August to minus 44, its lowest figure since records began in 1974.