The start of the new year saw a slight drop in U.S. consumer confidence, according to data released on Tuesday.

The Conference Board, a global business membership and research organization, said its U.S. consumer confidence index fell to 107.1 in January, a small dip from 109 in the month prior.

"Consumer confidence fell the most for households earning less than $15,000 and for households aged under 35," said Ataman Ozyildirim, senior director of economics at The Conference Board.

However, the organization's present situation index, which measures consumers' assessment of labor and business trends, climbed to 150.9 from 147.4 the previous month.

The expectations index, a measure of consumers' short-term views on income, labor and business conditions, fell to 77.8 from 83.4 in December.

The report was released one day ahead of the U.S. Federal Reserve's expected interest rate hike and amid predictions of a possible recession in the latter half of 2023.