The Index fell three points in July

The Index fell three points in July

Confidence among UK consumers dropped in July, falling from levels not seen since the nineties or early days of the noughties.

GfK’s Consumer Confidence Index fell three points to 4 this month. Three of the measures used to calculate the Index saw declines this month, one increased and one stayed the same.

Joe Staton, head of market dynamics at GfK, believes concerns about the UK economy are weighing on consumers' minds.

Nonetheless, he noted: "With wage inflation outstripping price inflation, and good news about improving growth and employment prospects, our expectations to next summer remain stable and considerably more optimistic than during July last year.

"Overall, despite this month’s dip, the underlying message is strong."