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Consumer confidence enjoys boost despite rising inflation

Consumer confidence has grown despite the cost-of-living crisis, according to the latest data from GfK.

Confidence rose by six points to -30, with GfK noting an improvement in all areas. Expectations for personal finances for the coming year rose the most, by eight points to -13.

Consumers said they were more likely to spend money on bigger products such as furniture or electrical goods, with the big purchase index standing at -28, its highest level in a year.

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