Domestic consumption consolidated in Apr-23, holding on to gains from Mar-23 as measured by QuantEco Research’s TRUCE indices
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Jun 19, 2023
QuantEco Research || TRUCE Index - Consumption consolidates in Apr-23
Urban consumption index rose marginally by 0.1 to 0.68 in Apr-23 to mark the highest level for the time series beginning Apr-18 onwards. At a granular level, while Petrol consumption eased, it was more than offset by sales of Passenger vehicles soaring to a record high along with moderation in urban CPI inflation. Rural consumption index too increased by 0.1 to 0.57 in Apr-23 i.e., the highest level in 5 months. An uptick in production of Consumer Non-durables, improved offtake of rural credit and softening in rural CPI inflation, more than compensated for the seasonal decline in fertilizer sales and agri exports.