Expectations for 2023 in the Shadow of Inflation Study

About the study

Following the inflationary climate of 2022, this study measures public expectations for 2023, including consumption, purchasing power, prices, borrowing, holidays, quality of life and sources of hope. It was published in December 2022.

Key findings

• 31.8% of the public say they will consume much less from January onwards, while 40.3% say less; people over 55 account for the majority of this group. Purchasing power is expected to fall and prices to rise further (10.6% expect prices to fall and 9.5% to fall sharply).
• Consumption will be cut to avoid borrowing; 5.5% think their quality of life will improve; 17% will not take a holiday the following year. Financial hardship is the main source of anxiety.
• Sources of hope are limited: 10.6% place their hopes in their children and 8.9% in the 2023 elections; the most common wish is “for the economy to improve”. Impoverishment is levelling society.

Methodology

Sample details were not disclosed in the web article.

Ertan Aksoy’s assessment (summary)

According to Ertan Aksoy, the decline in intended consumption for the following year is unusually pronounced; this reflects the absence of expectations that inflation will fall, together with increased borrowing in 2022 that is constraining consumption.