UK Consumer Confidence Plunges to -24 in October as Fuel Prices Bite, GfK Says

08:04 PM EDT, 10/22/2026 (MT Newswires) -- UK consumer confidence fell sharply in October as soaring fuel prices intensified cost-of-living pressures linked to the Middle East conflict, Bloomberg reported Thursday, citing GfK. GfK's confidence index dropped to minus 24, down 11 points from September, Bloomberg said. Outside the pandemic, it was the biggest monthly decline since the 2016 Brexit vote, according to the report. The speed of this deterioration is alarming, Neil Bellamy, consumer insights director at GfK, said, as cited in the report. All confidence indicators tracked by GfK declined, and plans for big-ticket purchases fell sharply, the report said. Savings intentions, which are not part of the headline score, increased. The survey was conducted between Oct. 1 and Oct. 14, according to the report.