The second wave of the corona epidemic and rising inflation have led to a decline in aggregate demand. This is the reason why the Consumer Confidence Index (CCI) has fallen to 48.6 per cent in the Reserve Bank's report. However, it stood at 48.5 in the month of May, which is almost the same as compared to the recently released figures.

The fall of the CCI adds to the fear of loss of jobs and income and rising inflation. The Consumer Confidence Survey (CCS) is a useful indicator of economic performance, particularly of private consumption.