According to Axis My India, the June India Consumer Sentiment Index (CSI) of a consumer data intelligence company, high inflation has had an impact on consumption.
Media consumption and mobility reflect the diminished sentiment in the given month. However, the research reveals consistency in the consumption of essential products, reflecting cautious consumer spending confidence. June’s net CSI score, calculated as a percentage gain minus a percentage decline in sentiment, was down to +10, from +12 last month.
According to the survey, total household spending has increased for 61% of families, reflecting a 5% decline from the past month. However, the net score that was at +58 last month has fallen -6 this month to +52. Spending on essentials such as personal care and household items has increased for 46% of households. However, expenditure remains the same for 34% of households. The net score that was +29 last month is down -3 this month to +26.
Spending on non-essential and discretionary products such as air conditioners, cars and refrigerators has increased for 8% of households, reflecting a large decline of 6% from last month. However, spending remains the same for 86% of households, an increase of 6% compared to last month. The net score that was +8 the previous month has dropped to +2 this month.
The consumption of health-related articles has increased for 36% of households, a decrease of 2% from last month. Consumption remains more or less the same for 49% of households, an increase of 2%. The health score that has a negative connotation, i.e. the less spending on health articles, the better the sentiments, has a net score of -21 this month compared to -23 last month.
Media use remains the same for 58% of the respondents. Consumption has increased for 20% of households, which is an overall decrease of 3% compared to last month. The total net score that was -2 last month, remains the same at -2 this month.