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The Guardian - UK
The Guardian - UK
Business
Heather Stewart Economics editor

UK consumer confidence has ‘collapsed’ during Iran war, retail industry says

Office for National Statistics United Kingdom Inflation Iran BRC FDF
The interior of Peter Jones department store in London
A department store in London. Official figures showed inflation held steady at 3% in February, before the war upended expectations. Photograph: Nick Moore/Alamy

Consumer confidence in the UK has “collapsed” since the start of the Iran war, according to new research from the British Retail Consortium.

The sharp rise in energy prices caused by the effective closure of the strait of Hormuz and attacks on infrastructure in the region has led to fears of higher inflation and weaker growth across oil-importing countries.

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