Hello all #LEO Lovers and #Hive Friends
The rate of increase of price over the given period of time is known as Inflation. His is the measure of overall increase in price of items or we can say the increase in cost of living. Many of us have been read the world inflation during the study but the effect of same on our lives can only be understand when we start earning and start the budgeting and planning for the month. The Inflation rate number are important as they directly impact the living hood of the people. If then numbers are increasing that means the price of all necessary items is also increasing and that leads to decrease of purchasing power of peoples, which directly effect the budgeting of a family. The low inflation is consider to be healthy for the growth of the country but it is increasing with higher rate it create the burden on the peoples. It become the monster that eating their hard earned money and they can not have control over it.
The inflation rate in India as per Government data is approximately 6 to 7 percent but I can count the many things around me which has increased in price more then that in past months. In my opinion the rates are more then 10 percent which are very high as compare to the other countries like US (where the rates are approximately 3 percent). Look at the scenario where you are getting fixed salary but the price of basic necessity items is increasing every month. You planned and do the budgeting as per the previous experience and when you start parching you get the surprise by knowing the increase in price. Their in no option left other then cut short the items and limit the budgeting. It is reality that the income of the people is not increasing the way the price of items has been increasing. And this increase not effect one section of society, it effects all peoples living in the county and the taking a big chunk of the their earnings. People can avoid luxury but the basic items like food, rent, cloths and transports can not be avoided. Those items directly or indirectly effect the every section of the society.
Price increase in sections like rent directly effects and some time cause the people to migrate to other locations. The metro cities of India like Mumbai and Delhi are place of many migrants and many people form other states come here for the job opportunities. But you will be surprise that the high rent in certain area become the reason that the people do not prefer to work their. Their was a time when the Mumbai airport was facing the shortage of working staff. I was also surprises after reading the news and was more surprised when come to know the reason for same. The rent of a small apartment in the airport area was too much that the people working in the airport was not able to wear the same. If they rented out side the airport area the cost of transportation was the challenge. Here one reason may be the less salaries but the cost of living was also played a major role.
For a fixed salary persona and middle and low class families even a 3 to 4 percent change in item price become a big burden of budget. They were already living on edge and those sudden burdens make their life more tough. The yearly salary increase of 5 percent even not the sufficient proportion if we compare with the inflation rate. The people working the in factories or on fixed wages do not get the Dearness Allowance they get the salary hike one in a year so how they are suppose to beat he inflation which is increasing on not month on month basis but day to day basis in current scenarios.
This is also one big reason that people are not able to do saving and for the emergency they have to look for alternates like loans which ultimately increase the burden on them.
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