People’s purchasing power eroded in one month

People’s purchasing power eroded in one month

While 87 percent of Turkish citizens state that the most important problem in the country is the economy, 76 percent state that they have experienced a serious loss in purchasing power in the last month.

People's purchasing power eroded in one month

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


According to the research, the country with the highest concern about inflation was Argentina, while Turkey was among the top 5 countries with the highest concern in this field in the global rankings. The rate of those who expect inflation to continue to rise is 73 percent, while the rate of those who expect it to decrease is 11 percent. In the economy, where only 3 percent of the society states that they are satisfied, a negative expectation prevails in all basic indicators. 68 percent of the society dollar And EuroWhile they expect TL to gain value against TL, 67 percent expect an increase in unemployment. While the rate of those expecting a decrease in living standards for the rest of the year was 54 percent, 52 percent of the society announced that their household income had decreased in the last 12 months. 60 percent of the society foresees a decrease in their personal expenses.

Pessimism continues

Research In his evaluation of the results, Ipsos Turkey CEO Sidar Gedik pointed out that Turkey continues to remain at the bottom in terms of consumer confidence for the last 3 months in a row and said, “The most important problem of our country is the economy, and the society does not expect an improvement in the near future.” Stating that negativity continues in parameters such as household income and purchasing power, Gedik continued as follows: “The great pessimism in expectations regarding the course of exchange rates, unemployment rate, personal living standard level and personal expenses in the coming period continues. “The fight against high inflation will last a long time.”

Melting is happening

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

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