Index of Consumer Confidence

Consumer Confidence Drops

Updated: October 28, 2022

This month recorded increases in both the short-term (one-year) and long-term (three-year) inflation expectations. This worrying finding indicates that consumers are less confident that inflation will be tamed in the long run and remain concerned about the immediate future, particularly with rising food prices. Inflation expectations are crucial in determining where wages and prices are headed.

4.7 points to 70.3
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About the ICC

The Index of Consumer Confidence is based on the Conference Board’s survey of Canadian households. It tracks consumers’ levels of optimism regarding current economic conditions, personal financial positions, short-term employment outlook, and making major purchases—as well as their expectations for the coming six months.

This index is a crucial indicator of near-term sales for companies in the consumer products sector.

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