Consumer confidence hits 4-year high in September

Recently, it has been reported that in September 2023, consumer confidence hit 4 years high. As per the statement of the Reserve Bank of India (RBI), it has occurred because of the continuing on the recovery path after a brief pause in July 2023. As per the survey conducted by RBI from 2 to 11 September, it has covered the responses of 6,077 across the 19 major cities. And the female respondents accounted for 50.3% of this sample. In September the CSI touched at 92.2 All this information has been given by RBI. To know everything about these details read this article till the end of this article.

Consumer

Recently Reserve Bank of India (RBI) has given a statement in which they claimed that the current situation index (CSI) has now reached a year high on the back of respondents which is better for assessment of the current general economic situation and the employment conditions in September 2023. Reports have claimed that this time the CSI has touched at 92.2. The household is still optimistic about the future earnings which has gone through the sentiment on the current earnings which has remained in July 2023. All this information has been shared by RBI in the bi-monthly consumer confidence survey released on 6th October 2023, Friday.

According to the source, RBI conducted a survey from the 2nd of September 2023 to the 11th of September 2023. RBI has covered 6,077 respondents across the 19 major cities. It has been claimed that this time the future expectations index (FEI) has also reached a four-year high in the latest survey round. The survey comes as food prices and energy which remains total globally. RBI has given a response in which they said that respondents were less prevailing price levels and inflation. The price expectations for this year have remained negative and respondents’ dismay in the front has moderated in the recent survey round.

On 6th October 2023, Friday the Monetary Policy Committee (MPC) of the Reserve Bank of India decided to keep the repo rate unchanged at 6.5 percent on 6th October 2023. The governor of RBI, Shaktikanta Das stated that currently, the economy of India is forging ahead in the challenging global environment which has made strength from the underlying macroeconomic fundamentals. He also said that the food prices and Volatile energy in the wake of lingering geopolitical tensions and the weather conditions have gone to the inflation outlook. Because of that, they are remaining vigilant of the evolving inflation dynamics. Stay tuned to techballad.

Prakash Israni

Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging