New analysis from YouGov and the Centre for Economics and Business Research (Cebr) shows that consumer confidence fell in January to its lowest level since March 2021.
In the face of households’ cost of living concerns, the overall index declined by one point from 110.0 to 109.0. While any score over 100 means more consumers are confident than not, January’s figure puts the index at its lowest point since March 2021 – with five of the eight metrics falling, including both household finance measures.
YouGov collects consumer confidence data every day, conducting over 6,000 interviews a month. Respondents answer questions about household finances, property prices, job security, and business activity, both over the past 30 days and looking ahead to the next 12 months.
The measure looking at people’s household financial situation over the coming 12 months has dropped to 79.1 – its lowest point since October 2013. The score covering the past 30 days sits at 80.6 – the last time it was down at this level was April 2020 when the UK was in its first lockdown.