Article #29295

Households ‘increasingly gloomy’ about finances amid fears of interest rate rises due to higher fuel prices

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Rising prices have become the top financial concern for UK households, according to a monthly consumer confidence survey, before Wednesday’s official figures, which are likely to show inflation remaining stubbornly high.

Amid fears of higher interest rates owing to increased fuel prices after the closure of the strait of Hormuz amid the conflict in the Middle East, households have become “increasingly gloomy about their financial situation”, the report said.