Turkey’s official consumer confidence index slid by 2.8% in February compared to the previous month to 71.2 from 73.2 in January.
It seems the government’s intervention to currency volatility since late December last year that had resulted in a strong recovery in consumer confidence in January is losing its effect. The reason is of course the high inflation and the 127% electricity price hikes imposed on households.
The survey results show that the household has lost hopes about its financial situation (-4.2% mom) and the general economic situation (-3.8% mom) with a 12 months perspective.
Seasonally adjusted consumer confidence index, February 2022
