Jun 07, 2024 08:10 PM IST
The RBI’s inflation expectation survey and consumer confidence survey show marginally increasing pessimism towards the economy.
The Reserve Bank of India (RBI)’s household inflation expectations survey revealed that households expect inflation to increase by 20 basis points (bps) for the next three months and 10 bps for the next one year.
The survey was conducted from May 2 to 11 in 19 major cities, with responses from 5,943 urban households. Female respondents accounted for 52.6% of this sample.
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A higher share of respondents expected prices and inflation to rise for all major product groups, with self-employed respondents expecting the highest level of inflation, according to the RBI’s press release.
The RBI’s Consumer confidence survey also showed that consumers expected a higher rise in overall spending, including both essential and non-essential spending over the next one year.
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The consumer confidence survey shows the current sentiments of the public on the state of the economy.
The CSI (Current situation index), highlighting the current sentiments dropped to 97.1 in May from 98.5 two months back. The FEI (Future expectations index) also reduced to 124.8 in May from 125.2 earlier, indicating a slight increase in pessimism towards the state of the economy.
Consumer confidence declined marginally due to “relatively tempered sentiments on the general economic situation and employment prospects,” according to the RBI’s press statement.
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