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‘Lifestyle’ inflation trumps essentials – Times of India

Mumbai: lifestyle inflation – Where consumers move towards higher quality products – he has gone ahead price rise In essential items Every year from FY18 onwards. While lifestyle is a reflection of inflation demand which is usually targeted policy ratesThe rise in prices of essential commodities is a supply-driven phenomenon, requiring targeted government intervention.
According to a report by the Economics Department of Bank of Baroda, the lifestyle inflation rate has seen an increase since FY 2018. It has increased from 4% in FY2018 to 6.4% in FY23. During the same period, the CAGR of per capita gross national disposable income was 8.5%.
Compared to FY2018, lifestyle items such as glassware within utensils saw an increase from 2.8% to 6%, candles increased from 3.1% to 7.1%, and monthly maintenance charges increased from 2.2% to 10.9%. Went. Similarly, motor vehicles increased from 2.4% to 7.7%. Electronic goods also saw a jump, with mobile handsets rising by 0.3% to 5.9% and PC/laptops rising by 1.6% to 9.1%. Watches/clocks increased from 4.9% to 7.9%, while travel accessories increased from 1.1% to 3.8%. The report said these changes reflect rising affordability and aspirations for better living standards.

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