The latest YouGov/Centre for Economics and Business Research (Cebr) Consumer Confidence Index recorded a decline of -0.2 points in September, with the headline measure increasing from 106.4 to 106.2. Any score greater than 100 indicates positive sentiment, while a score of less than 100 indicates negative sentiment.

Household finance measures recorded their first drop since April this year, with retrospective figures falling from 87.7 to 85.5 (-2.2). Outlook for the year ahead saw even greater fall, from 89.6 to 83.9 (-5.7).

On a happier note, business activity measures were positive. Workers have noticed more activity over the past 30 days, with scores rising from 107.8 to 109.3 (+1.5), while the forward-looking measure saw an uptick of 2.7 points, rising from 1157.7 to 120.4 (+2.7).

Perceptions of job security over September improved from 91.5 to 92.6 (+1.1), and looking ahead to the next 12 months, from 117.3 to 117.4 (+1.1).

Finally, perceptions of house prices went up over September. Scores for the past 30 days went from 111.6 to 111.9 (+0.3), while outlook increased from 128.1 to 128.5 (+0.4).

Sam Miley, Head of Forecasting and Thought Leadership at CEBR, said: "Households’ perceptions of their financial situation have taken a sharp turn, pulling the YouGov/Cebr Consumer Confidence Index downwards. Inflation was already above 3% heading into September and is likely to accelerate further, being driven by motor fuels, where prices have recently hit record highs. With earnings growth also slowing, households are being further squeezed, meaning pessimism over finances will likely linger."