Consumer confidence ‘collapses’ as Middle East war escalates

The war has led to a collapse in confidence among consumers (PA) - (PA Archive)

Consumer confidence has “collapsed” as the war in the Middle East raises fears of soaring inflation over the coming months, figures show.

The British Retail Consortium (BRC) survey by Opinium, taken between March 10 and March 13, shows consumer expectations of the economy over the next three months fell to its lowest level on record, plunging to minus 53 from minus 30 in February.