Consumer confidence for the year ahead has continued to improve on higher optimism, leading to the Future Expectations Index (FEI) rising 2.1 points to 125.2, the highest level since mid-2019, according to a survey by the Reserve Bank of India. in March 2024.
Household sentiment about the general economic situation and employment prospects showed a notable improvement both for the current period and for the coming year. At the same time, their prospects for discretionary spending improved.
Respondents to the Reserve Bank of India survey said their income situation was better compared to a year ago and expected a further increase in income in the coming year.
The Reserve Bank on Friday released the results of the March 2024 round of its bi-monthly Consumer Confidence Survey (CCS), along with the monetary policy review.
The RBI said in a statement that the survey collects current perceptions (versus a year ago) and one year ahead expectations of households on the general economic situation, employment scenario, general price situation, own income and expenditure in 19 major cities. . The final round of the survey was conducted from March 2 to 11, 2024 and included 6,083 respondents. Female respondents made up 50.8 percent of this sample.
The Households’ Inflation Expectations Survey found that the share of households expecting overall prices and inflation to rise over the next three months and a year is more moderate for overall prices and most product groups compared to the previous round of the survey.
Household expectations of the overall price over a one-year period remained closely aligned with food prices and housing-related expenditure.
First print: April 7, 2024 | 7:53 PM IST