Overview

• Consumer confidence in the UK fell by one point to -21 in October, according to GfK's index, marking the lowest level since March.
• Despite a drop in inflation to a three-year low of 1.7%, consumer sentiment remains pessimistic due to looming tax increases in the upcoming budget.
• Chancellor Rachel Reeves has indicated that the budget will include 'tough choices,' potentially involving £40 billion in fiscal tightening.
• Experts suggest the Bank of England is likely to cut interest rates in November, which could ease mortgage rates and benefit homebuyers.
• Business confidence also declined, with the UK's private sector activity hitting an 11-month low, adding to economic concerns.