Unimaginable rise in prices of food items and groceries - Shocking state of lives of middle class people in Chennai!!
Posted on: 29/Jun/2022 9:40:41 AM
How would you react if you come to know that the common man would soon be restricted to buy only the essential items and not other things!! Shocking right!!
It must be noted that the demand and supply in the market seems to be going down or bearish now. The middle class people would be facing many issues due to the inflation. Truth is that the cost of food items and groceries has been increasing at a fast rate now and is making the lives of middle class people very tough.
In the last 3 months in Chennai, the receipt of grocery items has remained high. The monthly expense of groceries has reached Rs 8000 now and the lives of common man are difficult now due to the recent inflation. It was mentioned by a financial advisor working in a private firm that 25% of the earnings of the common man are being spent on fuel, gas and cooking oil. Developing a financial discipline is very important and those who do not follow would suffer a lot.
The economists have already issued warnings about the financial economy is known. He spoke about how there was no money available in the market as banks have increased their lending rates and also there has been a steep rise in inflation.
A Chennai based homemaker expressed her thoughts. She spoke about how earlier Rs 3000 was sufficient to buy the groceries every month and how now Rs 8000 to Rs 10000 was needed. This has been mainly due to a spike in the essential commodity rates. Not only groceries are costing more now but also the LPG cylinders and the rates of vegetables etc too. Many middle class people now borrow money to pay school fees for their kids plus for EB, medicines etc.
The steep increase in the prices has come at a time when the people have been struggling to come to terms with the deadly Coronavirus infection pandemic. It is shocking to note that the earnings of middle class persons are not enough to run an entire family now.
The sale of cosmetic items like shampoo, soaps, face creams etc have been affected now due to high prices. The sale of these items has gone down by 50percent in Chennai. Truth is that middle class people now give more importance to buying essential items and groceries etc and not give much importance to cosmetics etc.
