As the economic reverberations caused by the COVID-19 pandemic continue to cause significant inflation pressures, disrupted supply chains, labor shortages, and other challenges in the 1st quarter of 2022, the Anchorage Consumer Optimism index (ANCi) saw a marked decline from the previous level seen in the last quarter of 2021. First quarter saw the impacts of the Omicron variant surge, leading to this significant decline in consumer optimism. At 43.6 in Q1 the ANCi is now down 4.6 points from Q4 and is now categorized as in the “not optimistic” range of below 45. This is the lowest level for the ANCi since the fourth quarter of 2020. The more stable six-month moving average decreased by 3.3 points to 45.9, the lowest level for this indicator since the survey was first launched.