India, June 13 -- India has so far avoided a big shock, either in terms of inflation or growth, on account of the war in West Asia. To be sure, an impact may become visible when growth numbers for the quarter ending June 2026 are released in August. However, one variable which does point to the war's adverse effect on the economy is RBI's Consumer Confidence Survey (CCS). Data for the rural and urban May 2026 rounds of the CCS was released by RBI on June 5. It shows a large drop in both rural and urban consumer confidence with the respective current situation index (CSI) dropping 5.3 and 7.4 points respectively for rural and urban areas between the January and May rounds. The West Asia war started on February 28. This makes it a good occa...