Consumer confidence slumps to lowest point in more than three years

The drop in confidence was driven by a sharp decline in expectations for finances over the next 12 months (PA) - (PA Wire)

Consumer confidence has slumped to its lowest point in more than three years amid inflation and rate hike fears, a survey suggests.

October saw a sharp deterioration in confidence, with 57% of households expecting a shift to higher interest rates and spending and saving becoming increasingly constrained, according to S&P Global figures.