ANKARA, April 22 (Xinhua) -- The consumer confidence index in Türkiye decreased 2.3 percent from a month ago to 83.9 points in April, official data showed on Tuesday.

The Turkish Statistical Institute said the decline marked a reversal from March, when the index had posted a 4.6 percent monthly increase.

The consumer confidence index is considered a key indicator of the economy's overall health. A value above 100 signals optimism towards the future economic situation, while a reading below 100 reflects pessimism among consumers.

Last Thursday, the Turkish central bank raised its key interest rate by 350 points, from 42.5 percent to 46 percent, reversing its previous easing cycle.

Türkiye's annual inflation stands at 38.10 percent in March.

Türkiye has been grappling with rising inflation for years. From June 2023 to March 2024, the central bank raised its key interest rate from 8.5 percent to 50 percent to tighten monetary policy and stepped into an easing cycle at the end of last year, supported by improving inflation indicators. Enditem

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