The UK was the only country in the five European markets studied (EU-5 ) that saw an increase in concerns about rising prices.

There was an increase of two percentage points (year-on-year) from 49% to 51% of UK respondents citing inflation as a source of concern, according to McKinsey’s most recent ConsumerWise Global Sentiment Data from August 2025. Inflation was a concern for over 40% of respondents across the other markets studied (the EU-5 and the US).

The survey asked about individuals’ greatest sources of concern currently, with respondents able to choose up to three from a list.

International conflicts were also a key concern for European consumers, according to the research (Germany – 31%, Italy – 36%, France – 33%, Spain – 26% and UK – 25%), but US respondents did not register the same level of unease, with only 15% citing international conflicts as a source of concern.

Respondents in the UK were the most likely to be concerned about immigration, with 38% citing it as a source of concern, compared with 32% of respondents in Germany, 26% in France, 25% in Spain, 20% in the US and 19% in Italy.

The research also studied consumer sentiment on anticipated spending ahead of the festive period. European respondents were more likely than US respondents to claim that they are planning to maintain or spend more than they did last year, according to the research ( 70% of EU-5 respondents, compared with 65% of US respondents).

Over half ( 54%) of EU-5 respondents said that they intend to begin their holiday shopping before the end of November, with the figure increasing to 67% when factoring in Black Friday weekend. Across all respondents, 11% reported that they have already started their holiday shopping, with 21% of UK respondents saying they have started.

However, the research also found that 14% of respondents claimed that they would not participate in holiday shopping at all this year, with that figure increasing to 18% in Germany and 17% in Italy.