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Indian Consumers Keep Spending, Despite Inflation
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Indian Consumers Keep Spending, Despite Inflation

Inflation has reached a 13-year high in India, but consumer spending has not declined, The Economic Times reported Thursday.

 

Instead, industry data show that sales of fast moving consumer goods and consumer durables are actually growing.

 

Amita Shetye, Director of Client Service, Nielsen, told the Times that Indian consumers have remained cautiously optimistic, despite the flagging economy.

 

“Indians are positive that the hard times will pass and hence they have not started cutting down on these purchases,” Shetye said, but added: “If this scenario continues for long, we may see consumers revising their household consumption rate.”