Consumer sentiments in August are muted. July 2022 had recorded a handsome increase of 6.7 per cent in consumer sentiments after several months of deceleration. But, sentiments suffered a serious setback in the last week of July and then again in the first week of August. Most of the souring of sentiments emanated from rural India. It is likely that the principal reason for this is the behaviour of the southwest monsoon.
Rains were erratic in June and they have continued to play truant through the season. By late August, while the quantum of precipitation was adequate, its geographical distribution
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