A year of low confidence, mountains of debt for consumers

After expecting a year without restrictions, consumers were left disappointed when geopolitical issues led to global economic conditions that also affected local prices for everything from fuel to food, forcing them to lose confidence in the economy and going into more debt. Consumer Confidence Consumer confidence started 2022 at lows due to the war in Ukraine, as well as the associated humanitarian crisis and its economic ramifications, declining 4 points in the first quarter from -9 to -13, the same depressing level recorded in the second quarter of 2021, according to the consumer confidence index (CCI) FNB / BER ….

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