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Consumer confidence in February 2022

Confidence in future household finances remains low

Confidence in future household finances in February remained the same following last month’s significant drop. A fifth of consumers (21%) thought that their household finances would get better over the next 12 months, whilst two-fifths (42%) thought their finances would worsen, giving a net confidence of -21. The recent large drop in confidence at the beginning of 2022 is likely related to the ‘cost of living crisis’, though this measure has been dropping more gradually since may of 2021. Consumers’ confidence in their current household finances remains stable at +26. 

Confidence in the future of the economy rose very slightly to -19 this month, but is still firmly in the negative. Confidence in the current UK economy is lower, at -32, perhaps showing more optimism for the future compared to the current situation. Inflation is expected to peak at just over 7% in April.

Contact us

If you have any questions or would like to find out more, please email Sophie Beesley at consumerinsight@which.co.uk.

Published on 22.02.22

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