UK consumer confidence dropped in September as shoppers entered a “depressed back-to-school mood”, new figures suggest.

GfK’s Consumer Confidence Index fell four points to three this month, with all five of the measures used to calculate the Index posting declines.

“Consumers are in a depressed ‘back-to-school’ mood this month with a dip in people feeling good about the wider economy and their own personal economic circumstances,” said Joe Staton, head of market dynamics at GfK.

“Across the board, all components of the Index have dropped despite a positive UK news agenda of continued near-zero inflation, low interest rates and levels of unemployment, UK wage growth at a six-year high and the ever increasing value of our homes.”