UK Household Outlook Most Downbeat Since 2013

British households are more downbeat about the outlook for their finances than at any time since late 2013 as rising inflation squeezes their disposable income, a survey showed on Wednesday.

Official figures on Tuesday showed inflation in February jumped to its highest level in over three years at 2.3 percent, as sterling’s fall since Britain voted to leave the European Union last year pushed up the cost of imports.

Financial data company Markit said on Wednesday its monthly Household Finance Index showed Britons’ expectations for their finances over the next 12 months dropped sharply to 45.3 from 48.1, its lowest level since November 2013.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.