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Highlights
- Britons are feeling more pessimistic this month amid the Omicron fears and rising inflation, as per a GfK survey.
- The GfK Consumer Confidence Index has dropped down to -15 this month after rising to -14 in November.
- After slashing down the interest rates at the start of the pandemic, the Bank of England has now finally raised the rates for the first time to counter the rising inflation.
With the new variant of coronavirus Omicron spreading rapidly, Britons are feeling somewhat more pessimistic this month amid the already rising inflationary pressures, according to a GfK survey conducted among 2,000 people in the first two weeks of December. After rising to -14 in November for the first time in a span of four months, the GfK Consumer Confidence Index has dropped down to -15 this month.
According to the client strategy director of GfK, Joe Staton, people are less likely to spend more ahead of Christmas this year as they are not very much confident about their personal finances as well as the overall economy over the next one year. With Omicron curbs, 2021 will be ending on a bad note, with little hope of upliftment in the initial months of 2022.
After slashing down the interest rates at the start of the pandemic, the Bank of England (BoE) has now finally raised the rates for the first time to counter the rising inflation. The inflation level is way above the BoE’s 2% target, and it had hit a decade-high of 5.1% in the 12 months to November.
Here are 5 UK consumer stocks that may be impacted by the news.
RELATED READ: 5 FTSE stocks to keep on your radar with rising inflation
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Greggs plc (LON: GRG)
The market cap of UK-based bakery chain Greggs plc stood at £3,034.42 million as of 16 December 2021. The company is a constituent of the FTSE250 index. It has given a return of 76.77% to its shareholders in the last one year and its year-to-date return stands at 67.09% as of 16 December 2021. Greggs plc’s shares closed at GBX 2,991.00 on 16 December 2021.
Card Factory PLC (LON: CARD)
The market cap of the UK-based retail company which sells greeting cards, party decorations, and gifts, Card Factory PLC, stood at £174.02 million as of 16 December 2021. The company has given a return of 18.65% to its shareholders in the last one year and its year-to-date return stands at 19.06% as of 16 December 2021. Card Factory PLC’s shares closed at GBX 50.90 on 16 December 2021.
Dunelm Group plc (LON: DNLM)
The market cap of the UK’s largest home furnishings retailer, Dunelm Group plc, stood at £2,808.99 million as of 16 December 2021. The company is a constituent of the FTSE250 index. It has given a return of 18.48% to its shareholders in the last one year and its year-to-date return stands at 14.18% as of 16 December 2021. Dunelm Group plc’s shares closed at GBX 1,385.00 on 16 December 2021.
RELATED READ: Should you buy these 5 hospitality stocks amid Plan B curbs?
Diageo plc (LON: DGE)
The market cap of the London-headquartered beverage alcohol firm, Diageo plc, stood at £92,137.74 million as of 16 December 2021. The company is a constituent of the FTSE100 index. It has given a return of 34.05% to its shareholders in the last one year and its year-to-date return stands at 37.17% as of 16 December 2021. Diageo plc’s shares closed at GBX 3,956.50 on 16 December 2021.
J Sainsbury plc (LON: SBRY)
The market cap of the UK’s second largest supermarket chain, J Sainsbury plc, stood at £6,316.92 million as of 16 December 2021. The company is a constituent of the FTSE100 index. It has given a return of 17.13% to its shareholders in the last one year and its year-to-date return stands at 20.09% as of 16 December 2021. J Sainsbury plc’s shares closed at GBX 270.80 on 16 December 2021.
