Consumers Remain Pessimistic In November, Shows RBI Survey
Customers shop during the festival of Dhanteras at night in Atta Market in Noida, Uttar Pradesh, India, on Friday, Nov.13, 2020. Photographer: Prashanth Vishwanthan/Bloomberg

Consumers Remain Pessimistic In November, Shows RBI Survey

Consumer confidence in India improved slightly from a record low but citizens remained pessimistic over the economic situation, employment, price and income, according to a survey by the central bank.

The current situation index rose to 52.3 in November from 49.9 in September, a record low, the Reserve Bank of India’s consumer confidence survey showed. An index value below 100 represents pessimism, while a reading above 100 signals optimism.

The future expectations index, however, remained flat.

Consumers Remain Pessimistic In November, Shows RBI Survey

Inflation Expectations Ease

The current inflation expectations of households fell to 8.8% in November from 9.8% in September. Median inflation expectations over three-month and one-year horizons stood at 10.1%, remaining elevated, according to the RBI’s inflation expectations survey of households.

More households expect general prices to rise in the next three months and one-year ahead periods but the share of respondents expecting higher prices for non-food products came down marginally, the survey said.

Consumers Remain Pessimistic In November, Shows RBI Survey

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