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The FNB/BER Consumer Confidence Index in South Africa fell sharply to -19 in Q2 2026, down from -7 in the previous quarter and marking its lowest level since Q1 2025. This deterioration signals softer consumer spending intentions as rising fuel prices, driven in part by the conflict in the Middle East, have placed additional pressure on household budgets—particularly among middle- and high-income consumers. FNB Chief Economist Mamello Matikinca-Ngwenya added that the recent interest-rate hike aimed at curbing inflation further dampened consumer sentiment.
