Consumer trust falls nearly 5% in July due to bleak future expectations

Consumers trust in Argentina fell by 4.8% in July and plummeted 12.3% compared to the same period of last year, according to a study released by Torcuato Di Tella University. The Consumer Trust Index (ICC, for its Spanish acronym) stood at 40.6 points, 14.1% below the peak of consumers trust during President Javier Mileis government, which was registered in January 2025 with 47.3 points. The lowest level of the administration was in January 2024 with 35.6 points, following the announcement of Mileis first policies. The index is calculated based on the results of a survey on personal financial circumstances and the economy in general. Regarding each of the segments included in the survey to calculate overall consumers trust, the largest drop was observed in macroeconomic conditions (-8.5%), followed by their personal situation (-3.9%), while durable goods and real estate showed a slight decline of 0.48%. When analyzing the time frames of consumers trust, the report found that their future expectations decreased by 7.2%, while current conditions fell by 1.24% compared to last month and 13.6% in contrast with July 2025. Future expectations dropped 11.4% in a year-on-year comparison. Consumers trust fell in all regions of the country in July, the sharpest being in Buenos Aires City (-6.2%) and the metropolitan area surrounding the nations capital (-6.4%), said the report based on a survey conducted between July 2 and 16. By income level, the index recorded declines both among low-income households (-11.5%) and high-income households (-1.5%). High-income households continue to post a higher index (43.4 points) compared to low-income households (36 points). Regarding age groups, consumers trust fell across all groups, led by those between 18 and 29 years old (8.2%).