If we talk about the cost of living it means that we are talking about one’s necessary needs to survive at a particular place, it includes food, water, housing, healthcare, transportation, and taxes. The phenomena of the cost of living is simple, if the given place’s cost of living is higher that means there is a high rate of inflation causing a hole in the common man’s pocket. The high rate of inflation burns a hole in the pocket and raises the cost of food, water, housing, healthcare, transportation, and taxes, which are necessary for living. Here we have come up with this article to analyze the CPI inflation print for the last month, September. What to expect from CPI inflation print for September, has been explained in the following section.
CPI Inflation to remain lower for September
Since Russia and Ukraine started a war, the cost of raw materials and commodities has surged which also increased the outflow of payment for oil, gold, and other commodities in India. Now it is expected that the retail inflation for September month to remain lower in India. It may have dropped to 5.50 percent which lies in the acceptable range of the Reserve Bank of India (RBI). What could be the reason for it? It is said that the CPI inflation would remain due to a slowdown in the increase of government subsidies and food prices to counter the increasing crude oil costs.
Cost of Living In India
The cost of living for a single person in India is Rs 27,637. Kindly note that this figure does not include the rent amount. If we compare the cost of living in India to that in the United States, it is 69.9 percent lower. While the rent in India is 89.2 percent lower than in the US. If we consider a family of four members, the family has a cost of living is Rs 94,699 per month.
If we go deep, the major chunk of the cost of living goes to Markets while transportation and rent per month are equal. Food costs only 11 percent of the cost of living. In India, Bangalore is the most expensive city to live where all the necessary things including rent, food, transportation, and groceries cost more than any major city in India. Delhi has a lower cost of living than Bangalore, Mumbai, Noida, and Gurugram. Stay tuned to this website for more details.