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October 20, 2022
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Household Consumption Intention grows 2.1% in October

Household Consumption Intention grows 2.1% in October

Household Consumption Intention (ICF) grew 2.1% in October this year, compared to the previous month, and reached 87 points on a scale from 0 to 200. The survey was released today (20) by the National Confederation of Trade in Goods, Services and Tourism (CNC).Household Consumption Intention grows 2.1% in October

This was the ninth consecutive increase in the indicator and, according to the CNC, it can be explained by factors such as the deflation of recent months, the growth of formal employment, income transfers and credit contracts.

Among the seven components of the ICF, the highest increases were presented by the current consumption level (4.1%) and the consumption perspective (2.5%). The other components also grew: time to purchase durable goods (2.1%), current income (2.1%), access to credit (1.9%), current employment (1.5%) and perspective professional (1.2%).

In comparison with October 2021, growth reached 18.9%, with highlights for current income (28.2%), professional perspective (25.3%), current employment (25.1%) and current consumption level (22.3%).

The consumption intention grew more in families with lower income (up to ten minimum wages): 2.2% compared to September and 20.4% compared to October last year. Among those who earn more out of ten minimum wages, growth was 1.7% and 13.7%, respectively.

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