With inflation dropping to its lowest level this year, consumer confidence is up.

This wave of the Ipsos B&A Consumer Confidence Barometer was conducted from the 14th-20th November 2023.

With a significant easing of inflation, consumer confidence has improved from -41 in October to -36 in November.

While this is a significant improvement compared to the same time last year, consumer confidence remains at a low level, with more than half (53%) anticipating the country to be worse off a year from now, and just 17% expecting the country to fare better in the year ahead.

The improved outlook is especially driven by males, the younger age cohorts and higher social classes, while consumer confidence remains very low among the middle aged and lower social classes. Consumer confidence is furthermore significantly lower among those living outside Dublin.

Despite the high inflation for more than a year, 2 in 3 (66%) “cope”, with 1 in 5 struggling financially.

Spend intention in the year ahead also sees an improvement, but almost half (47%) expect to decrease their spend in the year ahead, with just 16% expecting to increase their consumer spend.

Outlook for the value of personal assets in the year ahead has improved and remains net positive.

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For more details and the full report or more information, please contact Jimmy Larsen and Pooja Sankhe: jimmy@ipsosbanda.ie and pooja@ipsosbanda.ie