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UK consumer confidence rose to its highest level in almost a year in February, despite the cost of living crisis. The GfK index of consumer confidence increased by seven points to -38, beating consensus forecasts of -43. This was the highest reading since April 2022, but remained well below zero. The survey showed that respondents felt more optimistic about their personal finances and the future economic situation. Headline inflation declined to 10.1 per cent in January and the public finances registered a surprise £30bn windfall in the fiscal year to January. Despite this, consumer mood remains a long way off pre-lockdown levels. Follow my Facebook group for the latest news and insights on the UK economy.
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