Retail sales rise unexpectedly, as inflation hammers UK consumer confidence – business live

Retail sales rise unexpectedly, as inflation hammers UK consumer confidence – business live

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The cost of living squeeze has pushed consumer confidence to its lowest on record, adding to concerns the UK could be falling towards recession.

Research company GfK’s UK consumer confidence index fell 2 percentage points to minus 40 in May, its lowest level since records began in 1974, beating the previous record set in the financial crisis.