Economics
Britons Start to Feel the Squeeze From Brexit-Fueled Inflation
- Consumer confidence falls to lowest level since 2013
- Pound’s drop since referendum is pushing up inflation
U.K. Faces Hard Brexit as Consumer Confidence Wanes
This article is for subscribers only.
U.K. households are starting to feel the pain from Brexit-induced pressure on their finances.
Multiple reports on Friday showed consumer confidence falling and a weakening of households’ spending power. All of that is likely a reaction to a jump in inflation, which some economists see reaching 3 percent next year as the pound’s post-referendum depreciation feeds through into prices.