• Consumer confidence weakened in first quarter, Deloitte says
  • Separate survey predicts economy cooled in first quarter

U.K. consumer confidence weakened in the first quarter and households were the most pessimistic on their finances in more than two years, according to a study from Deloitte LLP, developments that may weigh on the economy.

Deloitte’s consumer sentiment gauge fell 1 percentage point from the previous quarter to minus 7 percent, while a measure of confidence in disposable income dropped 3 points to minus 17 percent, it said in a report Monday.

Inflation is already weighing on consumer spending, with data on Friday showing U.K. retail sales plunged…