High inflation contributed to consumer anxiety
Index declined for second month in a row
Purchasing intentions for big-ticket items cooled slightly
Mystery shopping exercise finds consumers felt good despite banks’ poor sales practices
Even before the omicron variant appeared, consumer optimism was being tested by price spikes
Meanwhile, the BoC's latest quarterly report suggests people will spend some of the savings they've amassed
High debt levels and rising rates may keep consumers on the sidelines
The lower-than-expected reading should ensure the Fed leaves its interest rate unchanged at next week's meeting
Prices have increased a substantial 5.4% compared with a year earlier
The index increased in June for the fifth straight month