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Fluctuating financial markets and increasing inflation have led to dropping , according to the Bankcard Consumer Confidence Index, which was jointly released by the Xinhua News Agency and 皇冠体育app UnionPay.

The June index dropped 0.87 percentage points month-on-month, and 1.11 percentage points year-on-year.

The index tracks consumption expenditure on non-necessities.

The A-share market plunge in June has significantly impacted consumer willingness to spend on non-essential items, the report said.

Inflation higher than predicted

Shanghai investor sentiment drops, report says