Wages are low, price hikes are high: Consumer confidence index has declined

The consumer confidence index, calculated from the results of the consumer tendency survey, was 81.3 in December and decreased by 0.4 percent in January to 81.0.

The Turkish Statistical Institute (TÜİK) has announced the Consumer Confidence Index for January 2024.

The consumer confidence index, calculated from the results of the consumer tendency survey conducted in cooperation with the Turkish Statistical Institute and the Central Bank of the Republic of Turkey, was 81.3 in December and decreased by 0.4 percent in January to 81.0.

The index for the current financial situation of the household was 63.8 last month and rose by 1.7 percent in January to 64.8.

The index for the expectation of the household's financial situation in the next 12 months was 81.9 in September and decreased by 1.7 percent this month to 80.5.

The index for the general economic situation expectation in the next 12 months, which was 76.8 in September, increased by 3.0 percent this month to 79.1.

The index for the intention to spend on durable consumer goods in the next 12 months was 102.6 in September and was recorded at 3.1 percent in October.

The consumer confidence index can take values in the range of 0-200. A consumer confidence index greater than 100 indicates an optimistic situation in consumer confidence, while a value less than 100 indicates a pessimistic situation in consumer confidence, and it was calculated as 99.4 with a decrease.