The April score for consumer expectations for the next three months on the state of the economy was the same as the previous month, both of which were substantially below the -30 registered in February this year, reflecting the impact of the war in Iran on global economies and trade.

Consumers rated their personal financial situation at -21 for April, down from -17 in March and hitting another record low.

Personal spending on retail rose to a positive score of five, up from two in March, while personal spending overall reached a score of 15, up two points from the previous month.

Personal savings stayed at -8, the same score as in March.

The findings are based on a sample of 2,000 UK adults, with fieldwork carried out between 7^th and 10^th April. The monitor has run since March 2024.

Helen Dickinson, chief executive at the British Retail Consortium, said: “The Middle East conflict continues to stoke consumer anxiety around inflation and the cost of living. Amid a volatile geopolitical situation, households are expecting to see their pay packets squeezed by rising petrol, domestic energy and food prices.

“The longer volatility drags on, the more uncertainty it creates in the economy. Businesses are battered by higher energy costs while also grappling with the growing burden of domestic policy pressures. From new packaging taxes to incoming employment and health regulations, the government has levers it can pull to limit the inflationary fallout. Taking early, decisive action would help shield consumers from a spike in the cost of living they simply can’t afford.”