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Inflation Bites: Avinash Sinha has been living in Delhi with his wife Medha and daughter since 2013, 10 years ago. Both husband and wife were working in a private company and their daughter had started going to school since then. In 2013, Avinash used to spend a total of Rs 4000 to 4500 on groceries every month. But in the last 10 years, Avinash’s income has increased, but inflation has hit him at a faster rate. Tremendous increase in the expenditure on groceries has been seen in the last 10 years. Avinash says that now even Rs 20,000 per month is falling short for grocery expenses.
Inflation has been hit by the witch!
Avinash told that flour, pulses, rice, mustard oil have become costlier, along with a tremendous increase in the prices of milk, curd, paneer has also been seen in these years. The prices of FMCG products like soap, detergent powder, shampoo, toothpaste are skyrocketing. Domestic cooking gas cylinder is being spent every month more than twice as compared to 10 years ago. He told that the effect of inflation is that he had to break even his fixed deposit for household expenses. And in the midst of all this, the inflation of the expensive school fees of the daughter has increased the problem separately.
Food prices skyrocketed
Now let us tell you how the backbreaking inflation has made the life of every common man difficult. 10 years ago a 10 kg bag of flour was available for Rs 210, now it is available for Rs 440. That is exactly double. Rice which was available at Rs 36 to 38 10 years ago is now available at Rs 80 to 90 per kg. Full cream milk was available at Rs 39 per liter, now it is available at Rs 66 per litre. The desi ghee which used to be available for Rs.300 per kg is now available for Rs.675 per kg. Paneer, which was available for Rs 160 to 180 per kg, is now available for Rs 425 to 450 per kg. Mustard oil was available at Rs 52 to 55 per kg in 2013, which is now available at Rs 150 per kg. Arhar dal was available in 2013 for Rs 70 to 80 per kg, now it is available for Rs 160 to 170 per kg.
| 2013 | 2023 | |
| Flour (10 kg) | Rs 210 | Rs 440 |
| Rice | Rs 36 – 38/kg | Rs 80 – 90/kg |
| full cream milk | Rs 39 | Rs 66 |
| Desi Ghee | Rs 300 | Rs 675 |
| mustard oil | Rs 52 | Rs 150 |
| Pigeon Pea | Rs 70-80 | Rs 160 -170 |
| kitchen gas | Rs 410 | Rs 1103 |
| petrol | Rs 66 | Rs 97 |
| diesel | Rs 52 | Rs 90 |
Inflation in LPG, petrol and diesel became a disaster!
And what to say about the prices of LPG cylinders, the essential fuel for cooking at home. In 2013, subsidized domestic cooking gas was available for Rs 410, for which people now have to pay Rs 1100. Not only LPG, but in the last 10 years the prices of petrol diesel have also increased tremendously. Petrol was available at Rs 66 per liter in April 2013, which is now available at Rs 97 per litre. Whereas diesel was available at Rs 52 per liter which is now available at around Rs 90 per litre. In the last 10 years, the rupee has weakened very much against the dollar. In 2013, the value of rupee used to be Rs 54 against one dollar, which has now come down to the level of Rs 82.
Expensive EMI ruined the budget
And those who have bought their dream home by taking EMI, their difficulties have increased the most. The EMI burden on home buyers has increased tremendously in one year. If any home buyers had taken a home loan before 2022, then due to the expensive EMI, the budget of such people’s house has now deteriorated. Suppose a home buyer had taken a home loan of Rs 40 lakh for 20 years at an interest rate of 6.50 per cent, then he had to pay an EMI of Rs 29,823. But now home buyers have to pay EMI of Rs 33,568 on the same home loan. That means every month more EMI has to be paid by Rs 3745.
No relief from inflation
It is clear that the common people have been hit all-round by inflation in the last few years. And there are no signs of relief in the near future. Rabi crop is expected to be damaged due to unseasonal rains, in such a situation there is less hope of getting relief from the skyrocketing prices of wheat. OPEC countries have decided to cut the production of crude oil, due to which the expectations of cheap petrol and diesel have been dashed. On this, the retail inflation rate in February 2023 remains above the RBI’s tolerance band of 6 per cent at 6.40 per cent. In such a situation, it is believed that RBI can make loans more expensive.
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