High prices still weighing on consumers’ minds
Fieldwork conducted on 5 – 8 May 2026
According to BRC-Opinium data, consumer expectations over the next three months of:
- The state of the economy improved at -48 in May, up from -53 in April.
- Their personal financial situation improved to -16 in May, up from -21 in April.
- Their personal spending on retail rose to +7 in May, up from +5 in April.
- Their personal spending overall remained at +15 in May, the same as in April.
- Their personal saving remained at -8 in May, the same as in April.
The proportion of people concerned that conflict in the Middle East could…
- Increase the price of food rose to 82% in May, up from 80% in April.
- Increase the price of non-food rose to 74% in May, up from 73% in April.
- Increase energy bills rose to 83% in May, up from 81% in April.
Helen Dickinson, chief executive of the British Retail Consortium, said: “Consumer confidence, while firmly negative, saw a slight lift in May following signs of de-escalation in the Middle East. Younger consumers drove this improvement in expectations for the economy and household finances, helped by rising real wages among this generation. But the outlook remains fragile: inflation is set to rise, and more than four in five people expect food prices to climb.”
“If government wants to keep consumer confidence heading in the right direction, it must now make a choice: act now, or let these inflationary pressures spiral, pushing up prices for households. Energy prices are pushing up costs for retailers and their supply chains, with the government’s energy taxes and levies making up as much as 65% of business bills. Cutting these charges is the fastest way to ease inflation and support consumer confidence. Delay will only make the next cost of living squeeze harder for households.”
Consumer expectations for the state of the economy over the next three months:
Consumer expectations for their personal financial situation over the next three months:
Consumer expectations of spending over the next three months by category:
Consumer NET expectations of spending over the next three months by category: