New Delhi: The onslaught of inflation is being severely felt in the country as a survey has revealed that 92% of respondents experienced a rise in their monthly household expenses in the last 3 months.
The survey, which was conducted by community platform LocalCircles, also found that 7 in 10 Indian households or nearly 70% of respondents felt their monthly household spending increased by 10% in the same duration while 55% poll participants expected the family budget to go up by another 10% in the next 3 months.
According to the latest government figures, wholesale inflation in April 2021 climbed to 15.08% – the highest rise in over 16 years – driven primarily by a rise in prices of mineral oils, basic metals, crude petroleum and natural gas, food items and products among others.
The survey mainly asked two questions – about past months’ spending (to 11,808 participants) and anticipated expenditure (to 11,858 participants ) – and received 23,500 responses from over 12,000 households located across 323 districts of India.
A closer look at the poll found that expenses rose by 20-30% in 26% households, while 10% homes said that inflation drove up their family’s spending by 30-40%. In 3% households, the monthly budget shot up by over 50%.
In the case of anticipated expenses, a further breakdown of the poll showed that 26% of respondents expected an increase in their household budget by up to 10%, while 31% feared a 10-20% spike. Nearly 19% said they were looking at a 20-30% rise in prices while a small fraction of 5% saw inflation driving up monthly expenses by over 30%.