People’s purchasing power eroded in a month

Vote Although the program to combat inflation and exchange rates, prioritized by the new post-economic management, has not yet generated a response in society, more than half of the population expects a deterioration in all the basic indicators of the economy. in the remaining periods of the year. According to the “Consumer Confidence Index, Survey of Current and Global Concerns” by research company Ipsos, Turkey is at the lowest level among 29 countries in consumer confidence with 34.5 points. While inflation, which is on everyone’s agenda, is the main concern of 39 percent globally, when it comes to Turkey, the economy is the most important issue at 87 percent. According to the research, which states that 76 percent of society is dissatisfied with the economy, the rate of those who say their purchasing power has decreased in just one month reached 76 percent in October.

INCOME OF 54 PERCENT DROPPED

According to the research, the country with the greatest concern about inflation was Argentina, while Turkey was among the 5 countries with the greatest concern in this field in the world ranking. The rate of those who expect inflation to continue rising is 73 percent, while the rate of those who expect it to decrease is 11 percent. In the economy, where only 3 percent of society declares itself satisfied, a negative expectation prevails. in all basic indicators. While 68 percent of society expects the dollar and euro to value against the TL, 67 percent expect an increase in unemployment. While the rate of those expecting a decline in living standards for the rest of the year was 54 percent, 52 percent of society announced that their household income had decreased in the last 12 months. 60 percent of society expects a decrease in their personal expenses.

The pessimism continues

Investigation In his assessment of the results, Ipsos Turkey CEO Sidar Gedik noted that Turkey continues to be at the bottom in terms of consumer confidence for the last 3 consecutive months and said: “The most important problem of our country is the economy, and society does not expect an improvement in the near future.” Gedik stated that negativity continues in parameters such as household income and purchasing power: “The great pessimism continues in expectations about the course of exchange rates, the unemployment rate, personal standard of living and personal expenses in the next period. “The fight against high inflation will last a long time.”

The merger is happening

According to the October research results, 76 percent of society recorded that their purchasing power decreased in one month, while the rate of those who said their purchasing power increased remained at 4 percent. 17 percent said they did not feel any change. With the decline here, the rate of those who announced they would reduce their personal spending in future periods was 60 percent.