Pound sterling exchange rate tops list of UK consumers' financial concerns, study shows

Research done by Yahoo and published on Thursday reveals the most frequently searched for terms in the 12 months to the end of April

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The Independent Online

An analysis of billions of online searches conducted in the UK over the past year indicates that, when it comes to finance, people are most concerned about exchange rates.

Research carried out by Yahoo and published on Thursday reveals the most frequently searched for terms in the 12 months to the end of April.

“Exchange rates” topped the list, followed by “The Budget”, “house prices”, “student finance” and “mortgage rates”.

The pound has fallen more than 10 per cent against the dollar since the UK last June voted to leave the EU. That pushed inflation up to 2.7 per cent in April – the highest since September 2013 – and consumers seem to be starting to feel the pinch of higher prices.

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Data from YouGov and the Centre for Economics and Business Research (CEBR) published at the end of May showed that consumer confidence had fallen to its lowest level since July last year, largely as a result of concerns around people’s household financial situation.

Yahoo said that consumers want clarity on how the Government intends to support that situation, which was why “The Budget” was the second most searched-for term.

Other search terms that made it into the top ten included “car tax”, “universal credit”, “pension changes”, “new £1 coin” and “Lloyds share price”.

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