Economy

Consumer confidence in Brazil down 3.1 points in May

The indicator reached 75.5 points on a scale of zero to 200

Vitor Abdala

Published on 25/05/2022 - 12:52

Rio de Janeiro

Vendedora atende cliente em loja de São Paulo, vendas , varejo, lojistas, comércio — © REUTERS/Amanda Perobelli/Direitos Reservados

Consumer Confidence Index (ICC), calculated by the Getulio Vargas Foundation (FGV), was down 3.1 points from April to May this year, reaching 75.5 points on a scale of zero to 200 points, as per data published today (May 25).

The reduction in the ICC was driven by a 5.1–point shrinkage in the Index of Expectations, on families’ financial situation in the coming months, which stood at 81 points.

The second component in the ICC, the Present Situation Index, gauging confidence in the present, was stable at 69.1 points.

According to FGV Researcher Viviane Seda Bittencourt, the results from recent months show that the inflation and the difficulty finding a job continue to have a negative impact on confidence among families.