Winning Bizness Desk

Mumbai. Rising inflation has broken the back of the common man. Running a household with inflation is becoming more challenging as the recession deepens and job cuts are feared across the world. If we talk about the food items, then we find that flour, pulses, rice, mustard oil have become expensive and the prices of milk, curd and paneer have also increased significantly in these years. Besides, the prices of FMCG products like soap, detergent powder, shampoo, toothpaste have skyrocketed. Household cooking gas cylinders cost more than double every month compared to 10 years ago. As a result of rising inflation, they also had to break their fixed deposits for housing expenses. And in all this, the inflation of the girl's expensive school fees has added another strain. The rupee has weakened considerably against the dollar over the last 10 years. In 2013, the rupee was valued at 54 rupees to one dollar, it has now come down to the level of 82 rupees.

Rising inflation has made life difficult

Rising inflation has made life difficult for every common man. 10 years ago, a bag of 10 kg flour was available for Rs 210, now it is available for Rs 440. That means its rates have doubled. 10 years ago, rice price was Rs 36 to 38 per kg, now it has gone up to Rs 80 to 90 per kg. Full cream milk was Rs 39 per litre, it is now Rs 66 per litre. Desi ghee, which was earlier available at Rs 300 per kg, is now available at Rs 675 per kg. Paneer, which was available at Rs 160 to 180 per kg, is now available at Rs 425 to 450 per kg. Mustard oil was available at Rs 52-55 per kg in 2013, it is now available at Rs 150 per kg. Tur dal was available at Rs 70-80 per kg in 2013, now it is available at Rs 160-170 per kg.

rising prices of LPG, petrol, diesel too

There has been a huge increase in the price of LPG cylinders required for cooking at home. In 2013, subsidized domestic cooking gas was available at Rs 410, for which people now pay Rs 1100 per cylinder. Not only LPG but also petrol diesel prices have increased drastically in the last 10 years. Petrol was available at Rs 66 per liter in April 2013, it is now Rs 97 per litre. While diesel is available at Rs 52 per litre. Now its price is around Rs 90 per litre.

Expensive EMIs ruined the budget

Having bought your dream home with EMI, their difficulties have increased the most. The EMI burden on home buyers who take out loans in one year has increased. If the homebuyer took a home loan before 2022, the housing budget of such people is now ruined due to expensive EMIs. For example, if a home buyer takes a home loan of Rs 40 lakh for 20 years at an interest rate of 6.50 per cent, he will have to pay an EMI of Rs 29,823. But now home buyers will have to pay an EMI of Rs 33,568 on the same home loan. This means paying an additional EMI of Rs 3745 per month.

Future looks grimmer

In the last few years, inflation has hit all around and there is no possibility of getting rid of severe inflation. Rabi crop is likely to be damaged due to unseasonal rains. In such a situation, there is little chance of relief in food prices. OPEC Plus has decided to cut crude oil production. As a result, there is no possibility of relief in crude oil prices.