Energy price cuts help boost consumer confidence - 01/02/2012
The decision by the Big Six energy suppliers to cut their prices in January has led to an upturn in positive feelings among Brits, a new report has found.
Research by GfK NOP revealed its UK Consumer Confidence Index increased by four points in January, taking it to its highest level since June 2011.
Managing director of GfK NOP Social Research Nick Moon said: "A few rays of light have started to reach long-suffering consumers, including falling inflation and the recent reduction in energy prices."
All the Big Six suppliers chose to cut either their gas or electricity tariffs over the past month, responding to decreases in wholesale costs.
However, the organisation warned the rise in confidence should be treated with caution, as the overall figure remains "seriously depressed".
GfK NOP said if the improvement is sustained into February, then this may be a sign that the country's situation in improving, but until then, this month's findings should be seen as "good, but certainly not great" news.
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