Consumer financial health hit a low point in June when inflation was soaring and gas prices were rising. Throughout the summer months, we began to see this slowly tick back up, but the latest October data show sentiment around personal financial health is once again starting to decline. It will be important to understand if this is a blip, with consumers reacting to recent headlines on inflation continuing through 2023 and fears of a recession looming, or if we will see it level off again.
- Compared to October 2021, CFHI is down 2.5 points.
- Compared to last month, the CFHI is down 0.42 points
The CFHI is comprised of several components to understand how consumers feel about their personal financial standing including debt outlook, investment outlook, income outlook, and more.
How can the CFHI help you?
The CFHI is a better way to track the financial health of your consumer. This tracker can be cut by target audiences, key consumer cohorts, and brand users, allowing you to keep a pulse on your customers/competitors to message, product development, and consumer/competitive intelligence. Due to its reliable correlation with consumer spending, the CFHI can forecast future spending changes. It can also be used to help predict category and industry performance. Learn more here.