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 Milei’s 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 Milei’s 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 nation’s 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%).
Facts Only
* Consumer trust fell by 4.8% in July compared to the previous year.
* Consumer trust plummeted by 12.3% compared to the same period last year.
* The Consumer Trust Index was 40.6 points.
* This index is 14.1% below the peak of consumer trust recorded in January 2025 (47.3 points).
* The lowest level for the administration was 35.6 points in January 2024.
* The largest drop observed across segments was in macroeconomic conditions (-8.5%).
* Personal situation saw a decline of -3.9%.
* Durable goods and real estate declined by 0.48%.
* Future expectations decreased by 7.2% year-on-year.
* Current conditions fell by 1.24% compared to the previous month.
* Current conditions fell by 13.6% compared to July 2025.
* Trust fell across all regions in July.
* The sharpest regional drops were in Buenos Aires City (-6.2%) and its surrounding metropolitan area (-6.4%).
* Declines among low-income households were -11.5%, while high-income households declined by -1.5%.
* Trust fell across all age groups, led by those between 18 and 29 years old (8.2%).
Executive Summary
Consumer trust in Argentina decreased by 4.8% in July and fell by 12.3% compared to the same period last year, according to a study from Torcuato Di Tella University. The Consumer Trust Index stood at 40.6 points, which is 14.1% below the peak observed during President Javier Milei’s government in January 2025, when the index was 47.3 points. The lowest recorded level for the administration was 35.6 points in January 2024 following the announcement of new policies.
The decline was distributed across different segments; macroeconomic conditions experienced the largest drop at -8.5%, followed by personal situation at -3.9%. Durable goods and real estate showed a minor decrease of 0.48%. In terms of expectations, future expectations decreased by 7.2% year-on-year, while current conditions fell by 1.24% compared to the previous month and 13.6% compared to July 2025. Regional trust was lowest in Buenos Aires City (-6.2%) and its surrounding metropolitan area (-6.4%). The decline was observed across all age groups, with the largest drop occurring among those aged 18 to 29 years (8.2%).
Full Take
The data reveals a broad erosion of confidence linked explicitly to macroeconomic conditions and future expectations, suggesting that immediate economic realities are the primary drivers of consumer sentiment, rather than localized issues alone. The divergence in drops—severe in macroeconomics versus moderate in personal situations or specific goods like real estate—points toward a systemic vulnerability where overarching economic uncertainty overrides individual financial awareness.
The pattern of decline across income levels and age groups suggests that the negative effects are pervasive, hitting both vulnerable low-income segments hard while prompting widespread anxiety among younger demographics. The fact that future expectations dropped significantly more than current conditions indicates a profound loss of faith in the immediate and medium-term economic trajectory, which feeds into long-term behavioral shifts.
The geographic concentration of the lowest trust levels in major urban centers suggests that systemic macroeconomic pressures are felt most acutely where economic activity is concentrated, while the demographic split highlights an uneven distribution of this anxiety based on existing wealth structures. The focus should shift from merely quantifying the loss to analyzing what structural assumptions—regarding stability and future opportunity—are being undermined by these shifts in perception.
Bridge Questions: What specific policy variables related to inflation or currency stability are most heavily weighted in the calculation of macroeconomic conditions, and how do these variable relationships change across different income strata? If future expectations are the clearest indicator of distress, what tangible actions could effectively anchor those expectations in the short term? How does regional disparity inform the necessity of uniform economic management versus localized responses?
Sentinel — Human
The text exhibits the characteristics of factual reporting derived from a specific institutional study, focusing on measurable economic and consumer trust metrics.