{"id":97337,"date":"2026-01-27T13:17:08","date_gmt":"2026-01-27T16:17:08","guid":{"rendered":"https:\/\/murray.adv.br\/?p=97337"},"modified":"2026-01-27T13:17:08","modified_gmt":"2026-01-27T16:17:08","slug":"debt-high-interest-rates-undermine-consumer-confidence","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/debt-high-interest-rates-undermine-consumer-confidence\/","title":{"rendered":"Debt, high interest rates undermine consumer confidence"},"content":{"rendered":"
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FGV index shows biggest drop in a year<\/strong><\/em><\/h6>\n<\/div>\n<\/div>\n
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01\/27\/2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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The\u00a0Consumer Confidence Index (ICC) fell 1.8 points<\/strong>\u00a0to 87.3 points in January 2026, according to\u00a0Funda\u00e7\u00e3o Getulio Vargas (FGV)<\/strong>. This was the sharpest drop since January 2025 (-4.4 points) and brought the indicator to its lowest level since October 2025 (87 points), said\u00a0Anna Carolina Gouveia<\/strong>, an economist at FGV. According to Gouveia, consumer concerns about high levels of debt and interest rates led to the drop in the index.<\/p>\n<\/div>\n

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The decline in confidence was caused by\u00a0unfavorable perceptions of both the present and the future<\/strong>. This is clear in the evolution of the two ICC components: the Current Situation Index (ISA) fell 0.8 points to 82.6 points, and the Expectations Index (IE) fell 2.5 points to 91.3 points in January.<\/p>\n<\/div>\n

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Responses of lower-income consumers to the FGV survey were noteworthy, she added. According to her, for respondents with a monthly income of up to R$2,100, the figure fell by 3.6 points in January. And, among consumers with a monthly income between R$2,100 and R$4,800, confidence dropped by 4.6 points.<\/p>\n<\/div>\n

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\u201cThroughout 2025, we had\u00a0employment<\/a>, income, and [lower] inflation stimulating consumption,\u201d Gouveia said. \u201cAnd credit interest rates were on the more negative side [of consumption intentions]. But, at the turn of the year, these factors [high interest rates<\/a>, more expensive credit] began to weigh a little more,\u201d she added. \u201cAnd when we look at it from an income perspective, it was mainly lower-income [consumers] who pushed the result down.\u201d<\/p>\n<\/div>\n

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Gouveia pointed out that lower-income consumers are also the ones with less room in their budgets for new purchases.<\/p>\n<\/div>\n

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She also highlighted the fact that households are still highly\u00a0indebted<\/strong>, inhibiting consumption.<\/p>\n<\/div>\n

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However, Gouveia was cautious when asked if the ICC would continue to fall in the coming months, given the likely continuation of high market interest rates and high levels of indebtedness. For her, the trajectory of the index cannot be projected with certainty, as there are positive and negative factors influencing consumption in 2026.<\/p>\n<\/div>\n

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Regarding positive factors that can influence domestic consumption, she mentioned the entry into force of the\u00a0income tax exemption for those who earn up to R$5,000 per month<\/strong>, which can help boost consumption, especially among low-income households.<\/p>\n<\/div>\n

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\u201cInflation<\/a>\u00a0is more controlled, and this income tax issue will help a lot [the consumption of] very low-income households,\u201d she said. \u201cBut, on the other hand, we already have signs of an economic slowdown,\u201d she noted. \u201cWe have high interest rates and indebtedness, which I think are very negative factors that weigh or will end up weighing on the consumer at some point, even if the supply of credit remains. Because consumers will only become more indebted,\u201d she said. \u201cI think we need to evaluate a little more, wait two or three months, to understand what the trajectory [of the ICC] would be,\u201d Gouveia concluded.<\/p>\n

*By\u00a0Alessandra Saraiva\u00a0\u2014 Rio de Janeiro<\/p>\n

Source: Valor International<\/p>\n

https:\/\/valorinternational.globo.com\/<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

FGV index shows biggest drop in a year 01\/27\/2026 The\u00a0Consumer Confidence Index (ICC) fell 1.8 points\u00a0to 87.3 points in January 2026, according to\u00a0Funda\u00e7\u00e3o Getulio Vargas (FGV). This was the sharpest drop since January 2025 (-4.4 points) and brought the indicator to its lowest level since October 2025 (87 points), said\u00a0Anna Carolina Gouveia, an economist at […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[13801,26730],"class_list":["post-97337","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-debt","tag-high-interest-rates-undermine-consumer-confidence"],"yoast_head":"\nDebt, high interest rates undermine consumer confidence - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/debt-high-interest-rates-undermine-consumer-confidence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Debt, high interest rates undermine consumer confidence - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"FGV index shows biggest drop in a year 01\/27\/2026 The\u00a0Consumer Confidence Index (ICC) fell 1.8 points\u00a0to 87.3 points in January 2026, according to\u00a0Funda\u00e7\u00e3o Getulio Vargas (FGV). 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