The average urban resident is now paying more towards rent as a share of total expenditure than was the case earlier.
The share of rent in consumption expenditure has risen to 6.58 per cent, according to data from the recently released Household Consumption Expenditure Survey 2023-24. This is the highest it has been in surveys going back to the turn of the millennium. The share of rent in urban expenditure was 4.46 per cent in a similar survey conducted in 1999-00. It has risen with every round of the survey. The Survey polls people across the country to understand household consumption and expenditure patterns. The data is used for compiling the index by which inflation is calculated.
The numbers presented here are based on the monthly per capita consumption expenditure (MPCE) in India during 2023-24. It does not take into account items that households receive for free. The share of rent after accounting for such items is 6.5 per cent.
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