The longest-running measure of consumer confidence fell sharply in September, raising concerns about whether government rhetoric about Budget "pain" has spooked people. GfK's Consumer Confidence Index had been recovering after years of rolling crises, higher interest rates and inflation gradually creeping up.

A long-running measure of consumer confidence has shown a significant drop in September, after warnings by the new government about the state of the public finances and a “painful” Autumn Budget to come.