OREANDA-NEWS. November 13, 2013. The Central Bank started to conduct the Households’ Financial Behavior and Intentions survey current September. The Consumer Confidence Index (CCI) and the Inflation Expectations Index are based upon survey findings. Respondents (4250 households) cover all regions of the country and are classified under their income level, employment type, work regime, age and gender.

The European Commission’s Joint Harmonised EU Programme of Business and Consumer Surveys and Business Tendency Surveys: A Handbook, OECD Statistics Directorate, served as a methodological base for the survey. The technical assistance of the KOF Swiss Institute, engaged in observation of the economic conjuncture, through the SECO support also contributed to the process in the run-up of the survey.

The survey findings were estimated through the widely practised balance method, which is defined as the difference between positive and negative responses. The derived gap is called the index, marking any pattern per component and estimated via a basis point. The closer to the peak, the higher or weaker the trend is.

According to the survey findings, in September the CCI equaled 30.01 basis points. This index is reckoned to be considerably high in an international practice and reflects consumer expectations and mood. Respondents are also expecting low inflation in upcoming months.

The Bank is planning to conduct this survey among households on a regular basis, findings of which will be used for analysis and projection of inflation and other macroeconomic identities.