Diwali 2011: High inflation to pinch festivities – says survey

NEW DELHI : This Diwali and Dhanteras people from middle- and low-income groups will be spending up to 40 per cent less, courtesy high inflation which is eating into their monthly budgets, says a study by industry body Assocham.

In its study ‘Soaring prices dampen Diwali festivities’, Assocham found that during the last year, middle and lower middle income families on an average spent a sum of Rs 3,000 -4,000 for shopping and, buying sweets and Diwali gifts.

“This Diwali, it has taken a severe hit as 85 per cent respondents said that the actual consumption expenditure has come down to less than Rs 1,800-2,400,” it said.