• UGI USER
  • Feb 28, 2024
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HCES: FULL RESULTS TO BE OUT BY JUNE’

Why in the news?

The complete findings of the Household Consumption Expenditure Survey (HCES) 2022-23 will be available within three months, following the recent release of a fact sheet by the Statistics Ministry.

About Ongoing HCES 2023-24 Survey:

  • An additional survey initiated in August 2023 is set to conclude in July 2024, with results expected by early 2025.
  • HCES, now covering 405 items compared to 347 in 2011-12, requires cautious comparison due to changes in questionnaire and canvassing approaches.
  • Updated CPI series to be available around July-August 2025, impacting economic assessments.

About HCES(Household Consumption Expenditure Survey):

●     Conducted by the National Statistical Office (NSO) every five years.

●     Aims to estimate Monthly Per Capita Consumption Expenditure (MPCE) and distribution for rural/urban sectors, States, Union Territories, and socio-economic groups.

About Wholesale Price Index (WPI):

Definition:

·     Measures price changes of bulk-traded goods by wholesale businesses.

·     Limited to goods, excluding services.

Usage:

●   Tracks supply and demand dynamics in industry, manufacturing, and construction.

●   Reflects changes in wholesale market conditions.

About Consumer Price Index (CPI):

  • Measures price changes for goods and services bought by consumers.
  • Published by the National Statistical Office, reflecting price variations in essentials like food, healthcare, and electronics.