New Delhi: Domestic urban consumption accelerated by three months High In SeptemberThe performance of the south-west monsoon has picked up sharply amid easing pressure on prices, the start of the festival season, data showed on Monday.
According to the TRUC index prepared by economic consultancy firm Quantico Research, “The urban consumption index rose from 0.62 in August 2023 to a 3-month high of 0.66 in September 2023, though still remains below the recent peak of 0.70 by May 2023.” “
It said the urban recovery was driven by strong passenger vehicle sales and air passenger traffic, and aided by a decline in retail urban inflation. Rural consumption recorded sharp improvement, index increased from 0.57 in August 2023 to 0.65 in September 2023, due to seasonal uptick in tractor sales, two-wheeler sales jumped ahead of the festive season… Improvement also supported According to the Mila index, CPI rural inflation. The economic advisory firm introduced the index to track consumption in both urban and rural areas and aims to fill a major data gap to help businesses provide a better picture of consumption patterns in the country.
Several data points such as passenger car sales, air traffic and other consumer trends had pointed to a pick-up in consumption that had slowed as inflation rose and interest rates tightened.
The latest data showed retail inflation fell to a four-month low in October as some food and fuel prices softened, slipping slightly below the 5% mark, and stubborn price pressures. Much needed relief has been provided and expectations about potential interest rates have been raised. Cut in the next year.
report He said that due to the delay in Diwali this year, the demand for the festive season is likely to remain strong in October 2023 also.
According to the TRUC index prepared by economic consultancy firm Quantico Research, “The urban consumption index rose from 0.62 in August 2023 to a 3-month high of 0.66 in September 2023, though still remains below the recent peak of 0.70 by May 2023.” “
It said the urban recovery was driven by strong passenger vehicle sales and air passenger traffic, and aided by a decline in retail urban inflation. Rural consumption recorded sharp improvement, index increased from 0.57 in August 2023 to 0.65 in September 2023, due to seasonal uptick in tractor sales, two-wheeler sales jumped ahead of the festive season… Improvement also supported According to the Mila index, CPI rural inflation. The economic advisory firm introduced the index to track consumption in both urban and rural areas and aims to fill a major data gap to help businesses provide a better picture of consumption patterns in the country.
Several data points such as passenger car sales, air traffic and other consumer trends had pointed to a pick-up in consumption that had slowed as inflation rose and interest rates tightened.
The latest data showed retail inflation fell to a four-month low in October as some food and fuel prices softened, slipping slightly below the 5% mark, and stubborn price pressures. Much needed relief has been provided and expectations about potential interest rates have been raised. Cut in the next year.
report He said that due to the delay in Diwali this year, the demand for the festive season is likely to remain strong in October 2023 also.