The latest FNB/BER Consumer Confidence Index fell sharply from –7 in the first quarter to –19 in the second quarter, its weakest level since early 2025, with the Bureau for Economic Research attributing much of the deterioration to higher fuel costs and growing pressure on disposable incomes.
A Debt Rescue consumer survey paints a similar picture:
- Nearly half of respondents said they did not know how they would cope with another interest rate increase.
- More than three-quarters expected borrowing costs to rise further before the end of the year.
- More than half said food, electricity and other household essentials would be the first expenses affected.