Consumer confidence is almost at the record low point recorded during the recession of the early 1990s, according to research by GfK NOP.

The consumer confidence index recorded a score of -34, compared to the total of -35 reached in March 1990.

"With rising inflation, gloomy forecasts for interest rates and soaring fuel, utility and food prices dominating the front page headlines, it's no surprise that confidence in the general economy is almost in freefall," said Rachael Joy from GfK NOP.

A year ago the index stood at -3 but the credit crunch has seen economic conditions worsen dramatically since then.