UK consumer confidence has fallen as concerns about rising food and energy prices mount, a survey published on Friday showed.
The latest GfK consumer confidence index fell five points in September from August to -13.
All the individual measures used to compile the widely-followed index declined. The forecast for personal finances over the next 12 months lost six points to 5, while expectations for the general economic situation in the coming year lost 10 points to -16 and the major purchase index was down three points at -6.
The savings index was down three points to 22.
GfK attributed the decline to growing anxiety about rises in the cost of living.
Joe Staton, client strategy director, said: “On the back of concerns about rising prices for fuel and food, the growth in headline inflation, tax hikes, empty shelves and the end of the furlough scheme, September sees consumers slamming on the brakes as those already in economic hardship anticipate a potential cost of living crisis.
“When consumer confidence drops, shoppers tend to spend less and this dampens the overall economic prospects for the UK. This really is an unwelcome picture going into 2022 and beyond.”
The survey follows data published on Thursday by IHS Markit and the Chartered Institute for Procurement that showed the UK’s manufacturing and services sectors both lost momentum in September as demand softened and costs increased.
Rising wages because of the labour shortage, increased transportation costs and severe supply-chain disruption were all blamed for the rate of input cost inflation accelerating.
The September GfK consumer confidence survey was conducted among a sample of 2,000 individuals aged 16+, with interviews carried out between 1 and 14 September.
