India's festive demand is uneven as inflation, price hikes weigh on shoppers
MUMBAI, Nov. 2 -- India's consumer economy is showing uneven signs of growth ahead of Diwali, with some segments reporting robust demand while others remain subdued amid high inflation, rising input costs and a shift in the festive season from the September to the December quarter.
Food and grocery recorded among the highest growth rates in July and August, at 12% year on year in the latest months for which data are available, according to consulting firm Deloitte's latest Consumer Signals report for India. Apparel growth picked up to 10% in August, while durables and electronics grew 7% during these months.
Jewellery sales growth moderated from more than 8% in August to just over 4% in September, according to data from the Retailers As...
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