Inflation hits Indian household saving rates by 45%!

Household savings of an average employee in the metros has come down by 45 per cent in the last six years due to the exorbitant rise in prices of essential commodities, fuel, education, burden on housing loan installment and increase in health insurance premiums, an Assocham survey has revealed.

Majority of the respondents said that they have been falling behind financially and their standard of living has deteriorated.

The standard of living is one quarter less than it was in the year 2006, the survey titled "If middle class people are suffering so much due to Inflation, what about poor and below poverty line citizens?" said.

The survey was conducted under the aegis of Assocham Social Development Foundation (ASDF) and over 5,000 employees took part.

Text: Business Standard

Reuters Images