The deterioration in confidence was reflected across all three components of the survey, with households becoming more pessimistic about the economy, their own finances and the appropriateness of making major purchases.
South African households are becoming increasingly concerned about their financial prospects as soaring fuel costs, higher borrowing expenses and economic uncertainty weigh heavily on consumer sentiment.
This is according to the latest First National Bank (FNB) and Bureau for Economic Research (BER) Consumer Confidence Index (CCI) released on Tuesday.
Consumer confidence plunged by 12 index points during the second quarter of 2026, falling from -7 to -19, marking the lowest reading since the first quarter of 2025 when concerns over a proposed VAT increase rattled households and businesses.
The latest decline was largely driven by the economic fallout from the conflict involving Iran and the temporary closure of the Strait of Hormuz, which sent global oil prices soaring and triggered sharp increases in domestic fuel costs.
