The average Indian's monthly spending increased 9.2% to ₹4,122 in rural areas and 8.3% to ₹6,996 in urban regions during 2023-24 compared to the previous year, with food driving rural growth while non-food items propelled urban expenditure, according to official data released on Friday.
The National Statistics Office's Household Consumption Expenditure Survey (HCES) showed poorer classes increased spending at a faster rate while expenditure by the richest declined even in nominal terms, leading to reduced consumption inequality.
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