UK consumer future sentiment increased in December as consumers got into the festive spirit and shrugged off fears of a worsening UK economy. However, sentiment regarding the future of the UK remains below pre-EU referendum levels.
Despite an increase in optimism for the overall future of the UK, the majority of consumers accept that the weak pound will lead to price rises, with five percent of consumers anticipating that prices will rise over the next six months. The biggest hikes are expected in fuel and household utility bills.
Impending price rises have also had a detrimental effect on retail spending, as zero percent of consumers expect to spend less on retail over the next six months, with the greatest cutbacks on entertainment products, and furniture and floor coverings.