Inflation cost Indians extra Rs 5.8 l cr: Crisil | business | Hindustan Times
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Inflation cost Indians extra Rs 5.8 l cr: Crisil

Indian households incurred an additional expenditure of Rs 5.8 lakh crore in the last three years, due to spiralling inflation and dearer food items, research firm Crisil said on Thursday in a report titled Inflation Hurts.

business Updated: Jun 29, 2011 00:07 IST

Indian households incurred an additional expenditure of Rs 5.8 lakh crore in the last three years, due to spiralling inflation and dearer food items, research firm Crisil said on Thursday in a report titled Inflation Hurts.

“The rise in inflation to 8% per year during 2008-09 to 2010-11 from 5% in the preceding three years eroded the purchasing power of money and inflated the consumption expenditure bill of Indian households by Rs 5.8 trillion (Rs 5.8 lakh crore),” the report said.

Food items saw a much sharper price increase compared to non-food items. “Food inflation was at 11.6% during 2008-09 to 2010-11 against non-food inflation of 5.7%,” Crisil said.