UK consumers feeling more confident about finances, says NatWest boss

For first time since August 2021 people expect position to be better in a year, Paul Thwaite adds

Consumer confidence is bouncing back in the UK, with people predicting a brighter financial future for the first time in two years, NatWest has said.

Paul Thwaite, the bank’s chief executive, said easing price pressures as inflation comes down seemed to be feeding through to the general public. Headline consumer price inflation is still above the Bank of England’s 2% target at 3.2% but has fallen sharply from a peak of 11.1% in October 2022. Natwest’s own economic forecast suggest inflation will fall to 2.5% by the end of this year.