Number Theory: India's consumption spending numbers explained in 4 charts

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Average consumer spending grew at the slowest pace between the 1999-2000 and 2004-05 Consumer Expenditure Survey.


The National Statistics Office (NSSO) published details of the Household Consumption Survey (HCES) 2022-23 on 24 February. The release of HCES results marks the end of an eleven-year drought in data usage in India. Since NSSO has not yet published the full report or grade data for HCES, a detailed analysis of the results is not possible. With this caveat in mind, we draw four important conclusions from the HCES data.

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