RBI Current Situation Index Rises Marginally

The Reserve Bank released the results of its Consumer Confidence Survey (CCS) for the January 2022 round. The survey was conducted during January 02 to January 11, 2022 in 13 major cities. Consumer confidence for the current period recorded gradual improvement for third successive round of the survey though it remained in pessimistic zone; the current situation Index (CSI) increased marginally on the back of better sentiments on general economic situation, household income and spending. The CSI hit 63.7 in latest reading compared to 62.3 in previous update. One year ahead outlook, as reflected by the future expectations index, remained in optimism zone; the index, however, moderated as the latest survey period coincided with the surge in COVID-19 infection cases in January 2022. Households reported further increase in overall expenditure driven by higher essential spending; their sentiments on non-essential outlay, however, remained subdued.

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