UK Consumer Confidence Recovers in August Amid Slowing Inflation

UK Consumer Confidence Recovers in August Amid Slowing Inflation
People shop on Oxford Street in London on April 10, 2023. Anna Gordon/Reuters
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Consumers in the UK have felt more confident about their finances in August amid slowing inflation, according to a key index.

The long-running GfK Consumer Confidence Barometer tracker show a five-point rise in consumer mood to -25 in August.

It puts consumer sentiment back to a path of recovery after the figure dropped from -24 to -30 during the wettest July on record which saw a slump in retails sales.