- British consumer confidence has significantly declined, reaching record lows, due to concerns over rising inflation stemming from the Middle East conflict.
- A British Retail Consortium (BRC) survey conducted by Opinium between 10 and 13 March revealed that expectations for the economy and personal finances hit their lowest levels on record.
- Despite overall low confidence, spending predictions increased as consumers anticipate higher energy costs.
- BRC chief executive Helen Dickinson said that the 'Boomer generation', reliant on investments and pensions, experienced the most pronounced drop in confidence.
- Ms Dickinson urged the government to prioritise reducing the cost of living and avoid imposing unnecessary costs on retailers, as the conflict threatens to exacerbate inflation.
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