Consumer sentiment reversed course with its largest one-week decline of the year this week, led by a drop in Americans’ assessments of the buying climate and lower personal finance ratings.

The overall decline marks a setback in an otherwise strong 2021 recovery from the Consumer Comfort Index’s unprecedented freefall last spring, including the largest year-to-date gain in 35 years of weekly data.

After advancing to a fresh pandemic peak last week, the CCI this week sustained only its second significant one-week decline of the year, losing 1.8 points to 55.1 on its 0-100 scale. That’s still up 10.7 points since the start of the year and 20.4 points from its pandemic low in May 2020.

Ratings of the buying climate took the biggest hit, down a steep 3.5 points to a five-week low of 47.2, their largest one-week drop since the initial months of the pandemic. That’s a sharp pivot from a 4.5-point advance in May and June to a pandemic high. Volatility in this gauge may reflect accumulating inflation pressures.

Americans’ ratings of their personal finances also slipped, down 1.8 points from their 16-month high of 69.4, the biggest one-week decline in this measure since early January. This CCI subindex nonetheless is about even with its pre-pandemic level and up 14.8 points from its pandemic low.

The CCI’s third gauge, based on Americans’ ratings of the national economy, did better this week, holding near its pandemic peak for a second consecutive week. At 50.6, it’s up 28.1 points from its nearly six-year low last May, while still 16.5 points short of its pre-pandemic position.