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Urban demand under pressure as food inflation bites
Business Standard
|November 01, 2024
Likely to remain soft on lower salary hike, high interest rates, says Nomura
A worrying trend is unfolding in the Indian consumer sector, with fast-moving consumer goods (FMCG) companies reporting a slowdown in urban consumption in the September quarter.
While temporary factors, such as a heavy monsoon, have worsened the slowdown, especially for out-of-home consumption, companies say high levels of food inflation remain a key concern for urban consumers.
In its second-quarter results released on Wednesday, Dabur India, the maker of Hajmola candy and Real fruit juice, said its rural business continued to outpace urban by 130 basis points (bps) for the third straight quarter. While rural markets grew 1.8 per cent, urban lagged at 1.2 per cent.
This story is from the November 01, 2024 edition of Business Standard.
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