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Food
prices biggest concern for Indians, says survey
Monday November 01, 2010 07:29:24 PM,
IANS
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New Delhi: With a
double-digit food inflation, the increasing food prices will be
the biggest concern for Indians over the next six months, a survey
released here said Monday.
According to the Nielsen Global Consumer Confidence Index, China
tops the countries concerned over increasing food prices with 36
percent of consumers in China voting it as the biggest concern
over the next six months.
India is fifth on the list of countries where people (15 percent)
consider food prices as the biggest concern over the next six
months.
"Inflation is usually a companion of heady growth and a cause for
concern in rapidly expanding economies like India. This will
continue to remain an area of concern until prices cool down,"
said Justin Sargent, managing director of the Nielsen Company.
Balancing work and life followed by job security were the next two
major concerns for Indians.
Indians were also concerned about the global warming with climate
change figuring in the top five concerns.
Compared to this time last year, seven out of 10 Indians (70
percent) have changed their spending habits to save on household
expenses.
About 58 percent Indians now spend less on new clothes to cut down
expenses, 56 percent try to save on gas and electricity, 48
percent have cut down on telephone expenses, 43 percent have cut
down on holidays or short breaks and 40 percent have cut down on
out of home entertainment, amongst others.
The survey was conducted among 26,000 internet users in 53
countries from Sep 3-21.
In India, the overall annual inflation rate has fallen in recent
months, but was still at a higher level of 8.62 percent as
recorded in September. The 52-week rise in food prices is also in
double-digits at 13.75 percent for the week ended Oct 16.
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