Households To Slam Brakes On Spending As Iran War Sends Cost Surging Warns EY
Consumer spending is set to pull back sharply as an inflation spike caused by the Iran war takes its toll on household finances and the wider economy, according to a report. EY’s economic outlook shows UK consumer spending growth will grind almost to a halt, at a predicted 0.3% for 2026, down from the 0.9% predicted before the conflict. Discretionary spending will bare the brunt of the hit, with consumer-facing companies set to be impacted, […]