Not for India’s rural majorityBAHBOLIYA MAHADA: Jakir Khan, an Indian farm worker, says he has cut down on food as his income has halved. They said inflation was high and was forcing them to borrow money to sustain already reduced consumption. The report did not specify if the risk build up in consumer loans was seen in rural areas or urban. That has meant strong demand in urban consumption as seen in sales of items such as smartphones, television and cars. But two-wheeler sales, seen as a proxy for rural consumption, remain lower than pandemic levels despite a 9 percent rise in 2023.

Source: Ethiopian News January 31, 2024 00:28 UTC