46% of urban Indians say cost of living spiked compared to last 12 mths: Survey

Over 1,000 respondents were polled online between June 7 and June 10, YouGov said, adding, "With inflation at its highest level in the past eight years, petrol prices spiralling and wholesale price inflation at a 30-year high, cost of living in India has gone up in the recent past."

A survey by market research firm YouGov on Thursday showed that 46% of urban Indians said their cost of living went up 'a lot' compared to the last 12 months, while 33% said it went up 'a little'.

Forty-six per cent of urban Indians surveyed said their cost of living went up 'a lot' compared to the last 12 months. (HT file photo. Representative image)

Over 1,000 respondents were polled online between June 7 and June 10, YouGov said, adding, "With inflation at its highest level in the past eight years, petrol prices spiralling and wholesale price inflation at a 30-year high, cost of living in India has gone up in the recent past."

Retail inflation touched an eight-year high of 7.79% in April and eased to 7.04% in May.

The survey showed that over the last six months urban consumers had reduced spending most on clothing, fuel and eating out. Half of respondents in Tier I cities said cost of living had gone up 'a lot' compared to 44% and 43% of residents in Tier II and III city residents who said the same thing.

Purchase of new clothes topped the list of cutbacks, with over 35% respondents saying they had reduced spending on apparel and accessories. Over 30% said they had reduced spending on hobbies or leisure activities, and around 28% said they had reduced spending on eating out.

Nearly a third of respondents said they had cut expenses on petrol or diesel.

This behaviour was more pronounced in Tier I cities than others, YouGov noted.

A quarter of respondents said they had also cut down expenses on OTT platforms; again, this was more noticeable in Tier I cities, where 32% said they had done so in the last six months.

Fewer respondents reported cutbacks on essential food items (12%), broadband subscriptions (15%) and household essentials (18%). People also continue to spend on monthly phone bills, insurance, alcohol and tobacco.