Consumer Confidence Drops on Fears of Inflation
Consumer confidence in the UK is flagging as fear of increasing inflation mounts, according to new research.The number of people who expect interest rates to rise over the next twelve months grew by two percent last month, according to Lloyds TBS Corporate Markets most recent Consumer Barometer.
For the first time in six months, an increasing number of Britons are expressing concerns about inflation, according to the financial services provider.
It might not be enough to drop interest rates this month, according to chief economist Trevor Williams of Lloyds TBS Corporate Markets.
Consumers do not believe that interest-rate cuts will have a lasting impact, according to Mr. Williams. Nonetheless, a reduction in the rate will reduce interest payments and possibly stimulate economic activity.
uSwitch.com, the price comparison service, suggests that many Britons may find help with a debt consolidation loan.