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India's middle class tightens its belt, squeezed by food inflation

By Economic Times - 2 days ago
India's middle class is tightening its belt as high inflation eats into their spending power. This slowdown in urban consumption, evident in declining sales of everything from cookies to restaurant meals, threatens India's economic growth. While official projections remain optimistic, some economists are less sanguine, pointing to shrinking wages and rising costs as key factors impacting urban spending.

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