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Inflation News : Indian families are facing the brunt of inflation. Due to inflation, their monthly expenditure increased by 18 percent in the March quarter this year compared to the June 2022 quarter. Market research firm Kantar said, the reason behind this is inflation. Earlier in the June 2022 quarter, Kantar had surveyed 6000 Indian families. In the first quarter of 2024, the average monthly expenditure of Indian families was Rs. 49418. Its urban families spent Rs. 64583 and rural families spent Rs. 41215.
Thus, urban families spent 1.6 times more than rural families. While the average expenditure of low-income Indian families during this quarter was Rs 38,000 per month.
The expenses covered by Kantar Tracker include groceries, fruits, vegetables, necessities, education, travel expenses, fashion rentals, etc.
Groceries are the biggest expense of Indians. In this quarter's estimate, it was 24 percent of the total family expenditure. Thus, it has increased by Rs 2000 on a quarterly basis.
The average expenditure of a rural Indian in 2022-23 was Rs 3773 and the average expenditure of an urban Indian was Rs 6459. Thus, according to the Consumer Expenditure Survey of the Ministry of Statistics and Program Implementation 2022-23, on an all-India basis, the expenditure of an urban Indian was 71 percent higher than that of a rural Indian.
In the survey conducted in the March quarter, only 16 percent of Indians were satisfied with their financial situation. While 34 percent of families said that it is becoming difficult for them to deal with inflation. This shows that more than one-third of India is facing a serious financial situation.
The southern part of the country has emerged as the highest spender. Its expenditure has increased by 35 per cent in the last two years. While the North Zone, which was leading in spending the most in 2022, lagged behind in 2022. This was because its expenditure on utilities fell from 16 per cent to 9 per cent. Costs are generally much lower in the north in winter.