Consumers Grapple with Concerns Over Inflation, Standard of Living, and Economic Prospects
The study conducted in July 2024 assessed the consumer confidence index at 62.9, compared to 68.0 April 2024 and 72.3 in January 2024.
Every quarter since 2010, a consumer confidence study in Mauritius has been conducted by Analysis, an affiliate of Kantar, a specialist in market research, data analysis, marketing consulting, and strategic decision support in the Indian Ocean. The study provides insights into the attitudes and concerns driving society. This study offers key information for economic decision-makers, enabling a better understanding of current trends and the dynamics of the island’s economic landscape.
Consumers remain concerned about the high cost of living, their standard of living, and the future evolution of the economy. Moreover, 71% of them believe that the authorities are not doing enough to combat inflation (cf. study on the balance and budget management by households, July 2024).
In contrast, households still have a very positive perception of the job market but are less optimistic about the evolution of household incomes compared to April 2024.
Consequently, the analysis of the consumer confidence index evolution since 2020 still suggests a gradual recovery of consumer confidence following the initial impacts of the pandemic.
However, the overall perception of Mauritius’s national trajectory remains pessimistic. Indeed, the analysis of responses to the question “In what direction is the country heading?” shows a significant decline in positive perception since January 2020. This perception does not seem to be solely correlated with financial conditions but appears to be driven by broader concerns.
6 August 2024
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