Consumer sentiment improves a touch in May but high prices continue to weigh - BRC

(Sharecast News) - UK consumer sentiment improved a touch in May, although high prices continued to weigh on people's minds, a survey released on Thursday showed.

According to May's BRC-Opinium consumer sentiment monitor, the measure for expectations about the state of the economy over the next three months improved to -48 from -53 in April.

The survey showed that respondents expect to spend more on retail over the next three months, with the measure for personal spending on retail rising to 7 from 5 in April. The measure for respondents' personal financial situation improved to -16 in May from -21 the month before, while the measure for personal spending overall was unchanged at 15.

The personal savings measure was also unchanged in May, at -8.

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."

Opinium surveyed 2,000 adults between 5 and 8 May 2026, with the results weighted and assigned a net score.