From Fuel To Daily Essentials, Here Are The 5 Ways In Which Rising Inflation Is Harshly Affecting Public

The recent upsurge in the price tags of essential daily commodities has not only left Indian households to question their monthly budget but has tightly gripped their spending on vegetables and edible oils. Further making it even more formidable to ignite their gas stoves with the rising LPG cylinder prices.

Here are five ways in which rapidly rising inflation is stealthily hampering our savings and digging deeper holes for our budget to fall in.

Fuel Hike

Rising petrol prices have made transport expenditure a major pocket-burning issue for people in various parts of India. Aurangabad tops the list on crossing the "100 mark" with Rs 122.12/L in petrol prices, followed by Bhopal and Bhuvneshwar experiencing Rs 118.14/L and Rs112.50/L respectively, reported Economic Times.

While simultaneously, CNG isn't spared from the decisive blow of inflation as the cost of CNG has shot up to Rs 10/Kg, making it Rs 69/Kg for auto and cab drivers to churn out profitable rents.

Vegetable Prices Rise

As per ANI reports, the collateral damage of boosted fuel prices is eminently visible in states like Andhra Pradesh, Maharashtra, Delhi, Tamil Nadu, and Uttar Pradesh, where local vendors and sellers are blaming the hike in fuel prices for fruits/vegetable prices rise.

Due to high freight rates, vegetable prices of tomatoes, chillies, radish, and gourds are undergoing an upsurge.

Why Are Edible Oils Costlier?

Indian households felt a double-sided surprise attack on their budget as following the petrol and LPG price hikes; edible oils shot up, making it harder for Indian families to turn on their gas stoves which they weren't expecting.

One thing that didn't surprise people was the reason behind the price rise, the "Russia-Ukraine Conflict". As speculated and warned by analysts and experts, within the first half of the war, an all-time high surge in the cost of sunflower oil was seen in India as its top producers & exporters declared war. India felt a much more onerous impact of this war than other countries as we import almost 90% of this edible oil from Russia and Ukraine.

According to Money Control Reports, "The market saw crises as palm oil prices shot up by $40".

Apart from the war, other factors contributing to these edible oils price hikes were unfavourable weather and labour shortage due to pandemics in exporting countries like Indonesia and Malaysia, which impacted the production of oil.

Food Inflation In Poultry Products

When the price hikes in LPG, edible oils, and vegetables were all, poultry farmers were facing food inflation in poultry products like eggs, fish and chickens.

Chicken prices are up by 18% to 20% for the January-March quarter. It is speculated that egg prices could also boost by 8%, considering India tops second for the annual egg production globally.

The Inflation Web

1. The education, cost of living and Healthcare: Since 2014, the housing rents have increased by 46%. Doctors' fees in hospitals shot up by 63%. Parents found it harder to send their children to higher studies as tuition fees increased by 51%, and the cost of paper & academic books was 44% costlier.

2. Electronics: TV sets have become 57% costlier while washing machines are now 33% expensive due to the global chip shortage and increased demands for smartphones.

While high petrol prices have always been a part of the never-ending inflation debate under different governments, we're left with a much more sensitive issue as everybody was distracted by the rapidly increasing price hikes of petrol. Here is the data of things you should watch out for that are secretly cutting your pockets over the years, and you don't even have the slightest clue about it.

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