Consumer Confidence Dips Ahead of UK Autumn Budget

Concerns over potential tax hikes and economic uncertainty overshadow falling inflation and expected interest rate cuts.

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.