site.btaTotal Consumer Confidence Indicator Rises 4.0 pp in Jan. 2023 Compared to Oct. 2022

In January 2023, the total consumer confidence indicator increases by 4.0 percentage points compared to October 2022, the National Statistical Institute reported on Tuesday. As for the urban population, the increase is 4.9 percentage points and for the rural population - 1.8 percentage points.

The consumers' opinions about the occurred changes in the financial situation of households and the general economic situation in the country over the last 12 months remain substantially unchanged in comparison with the previous edition of this survey. However, in the forecasts over the next 12 months, the inquiry registers some pessimism by the rural population regarding the financial situation and slightly worse expectations about the economy, while among the urban population the expectations are more positive.

Concerning the unemployment in Bulgaria over the next 12 months, the forecasts are shifting towards preserving or marginal decrease. As a result of that, the balance indicator drops by 10.5 percentage points.

Consumers believe that over the last 12 months, the tendency of rising consumer prices is preserved. At the same time, their inflation expectations over the next 12 months are less intense.

In January 2023, the most consumers continue to assess the Bulgarian economy as unfavourable for saving. However, the last inquiry registers slightly more positive attitude towards spending on home improvements over the next 12 months.