Rising food prices has overtaken rising energy bills and rising fuel prices to become the number one consumer concern as a result of tensions in the Middle East, according to Barclays.
The research revealed that 86% of consumers surveyed between 27-31 March were concerned about rising food prices, an increase of 13% from the previous survey taken between 3-6 March where the figure stood at 76%. Almost three quarters (74%) anticipate ongoing tensions will continue to impact the cost of living throughout the rest of year.
However, overall consumer resilience remains strong with the majority of UK adults (71%) feeling confident in their ability to live within their means each month.
Consumer card spending increased 0.9% year-on-year in March, down from February (1%) and less than the latest CPIH inflation rate of 3.4%. Essential spending returned to growth (up 0.5%) for the first time since July 2025 (0.3%). Barclays claimed that this was largely driven by a 1.6% rise in fuel spending, the category’s first increase since February 2023 (5.2%). Spending jumped 10.9% year‑on‑year in the week commencing 28 February as drivers filled up ahead of price rises, but the peak quickly tailed off, with spending returning to last year’s levels throughout March.
| Consumer concerns as a result of tensions in the Middle East | ||
| 3rd-6th March | 27th-31st March | |
| Rising food prices | 76% | 86% |
| Rising energy bills | 81% | 85% |
| Rising oil/gas/fuel prices | 82% | 84% |
| Rising household bills | 76% | 83% |
| Inflation | 78% | 83% |
| Economic slowdown | 69% | 74% |
| Supply chain disruption | 70% | 74% |
| Rising travel costs | 59% | 70% |
| Rising interest rates | 56% | 61% |
| Travel disruption | 56% | 57% |
