Page 3 - Households

Private consumption edges up in Q2; infra investment almost flat

PFCE, a proxy for household and private sector consumption, was 61.6% of nominal GDP in Q2FY23, as against 61.1% in the previous quarter and 59.5 per cent a year ago

69% Indian households struggle with financial insecurity, says survey

Despite robust growth in financial inclusion and the burgeoning financial services industry, almost 69 per cent of Indian households struggle with financial insecurity and vulnerability, according to a personal finance survey conducted by Money9. India's Personal Finance Pulse maps Indian households' income, savings, investment and spending, said a statement issued by Money9, promoted by TV9 Network. Providing insights into how India earns, spends and saves, the survey has also unveiled the country's first-ever state ranking of citizen financial security -- the Money9 Financial Security Index. "The survey finds that the average income of an Indian family of 4.2 persons is Rs 23,000 per month. Over 46 per cent of Indian families have an income of less than Rs 15,000 per month i.e.belong to the aspiring or lowest-income cohort," it said. "Only 3 per cent of Indian households have a luxury standard of living and most of them belong to higher income cohorts (High- Middle and Rich)." Al

New Zealand's cost of living for average households rises by 7.7% YoY

The cost of living for the average household in New Zealand increased by 7.7 per cent year on year, with increasing prices widely felt across all household groups in the September 2022 quarter

Gujarat govt to give two cylinders free to Ujjwala beneficiaries

The state govt has also announced 10% value added tax reduction on compressed natural gas and piped natural gas

56 mn Indians may have turned poor in 2020 due to pandemic: World Bank

"The global goal of ending extreme poverty by 2030 is likely to be missed: by then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill said.

Ahead of festive season, retail credit growth nears 20% in August

Credit growth to the services sector accelerated to 17.2 per cent in August 2022 from just 2.1 per cent a year ago. It was mainly due to improved credit off-take to NBFCs and trade sectors.

Mutual funds' share in household savings jump 150% in FY22: RBI data

Retail investments in MF rise as flows into bank deposits drop

1 in 3 families may splurge over Rs 10,000 this festival season: Survey

LocalCircles report said CMIE had reported that the consumer sentiments decreased in August after rising in July

Footfalls in stores may rise by 20% this festival season: Local Circles

An increase of 20 per cent in consumers likely to be seen in stores/markets this festival season as compared to last year

EU seeks $140 bn from energy firms to insulate consumers from energy crisis

European gas and power prices have rocketed this year as Russia cut fuel exports to retaliate for Western sanctions over its invasion of Ukraine

State govts step up relief measures for households battling inflation

Kerala distributed a package of free food items costing about 450 rupees ($5.70) each to over 8 million families during the Onam festival earlier this month.

Patients' out-of-pocket medical bill spend declined in 2018-19, shows data

The NHA 2018-19 highlighted that the Centre's expenditure on the National Health Mission was Rs 30,578 crore

33% Indian households cut milk consumption amid price rise concerns: Survey

LocalCircles -- a community social media platform -- conducted a survey to gather information on how the households are coping with it

State of the Indian economy: Unequal, uneven distribution of wealth

The income gap between states is growing and the pain of inflation is worse for those falling behind

At 10.1%, Britain's inflation hits 40-year high as food prices soar

Britain's rate of inflation has surged to a new 40-year high as the Consumer Prices Index (CPI) rose to 10.1 per cent on Wednesday, with increasing food costs the biggest driver of the latest hike. According to the Office for National Statistics (ONS), annual inflation for essential food items is now running at 12.7 per cent, up from 9.8 per cent in June, fuelled largely by price rises for basics such as bread, milk, cheese and eggs. The latest figures come amid soaring energy bills and a mounting cost-of-living crisis across the country. "A wide range of price rises drove inflation up again this month, said ONS chief economist Grant Fitzner. "Food prices rose notably, particularly bakery products, dairy, meat and vegetables, which was also reflected in higher takeaway prices. Price rises in other staple items, such as pet food, toilet rolls, toothbrushes and deodorants also pushed up inflation in July, he said. "Driven by higher demand, the price for package holidays rose, after

Work sought under MGNREGS in June still higher than before Covid

According to economists and policymakers, this reflects the continued lure of MGNREGS among rural manual casual labour despite a near resumption of economic activity, both in rural and urban areas

US household wealth declines for first time in 2 years in 1st quarter

US household wealth has declined by more than $500 billion from record figures of previous year

Around 31 mn households demand work under MGNREGA in May, up 11% YoY

The figure is also much higher than the corresponding pre-Covid period, data shows

Monthly budget up 10% in three months amid rising fuel prices: Survey

Seventy per cent of those surveyed saw at least 10 per cent increase in their monthly budget, while 55 per cent expect prices to go up by another 10 per cent in the next three months

Consumer sentiments rise slowly

Wounds of pandemic-induced lockdowns on households are healing