Comments
Inflation could be cooling off in recent months with overall consumer price inflation figures at a benign 4.87 per cent in April 2015 over April 2014. But prices of several goods on the household budget are showing no signs of letting up. Many items that constitute the Consumer Price Index such as milk and products, pulses , snacks and sweets, fuel and light and health are 6-9.5 per cent pricier than a year ago. Lokeshwarri SK finds out how rising prices are affecting people
The going is especially difficult for retired people. Prof TK Basu, who retired as the head of the accounting department in St Xaviers College, Kolkata, is facing difficulty making his fixed income from retirement savings match the rise in prices. “I have all my savings in fixed deposits that earn a fixed interest every month. That is not enough to keep pace with the increase in prices,” he says. “For instance, I am obliged to maintain a car. But petrol prices are prohibitive. When prices fall, the government increases excise duties, thus stopping the benefit from getting passed on to consumers.”
The cost of fish, the staple food of Bengalis, has been soaring. “One kg of Rohu (fish) has increased from ₹55 to ₹150 in just a few years. Hilsa, another favourite fish variety, has moved out of bounds at ₹1,000 per kg,” he laments.
He feels that staying in Kolkata is an advantage since the cost of living is cheaper here compared with other metros. Prof Basu also lives in his own flat, thus being spared from increasing rental costs. But healthcare is a worry. “Healthcare costs are shooting up and the insurance cover I have is not adequate,” he says. “Insurance companies are not willing to raise the limit.” The only area where Prof Basu is able to cut back on his expenditure is entertainment, such as trips to the movie hall.
But social costs — giving gifts to relatives on occasions such as birthdays, marriages, and house-warming — is something he is unable to avoid. “People of old age are supposed to give blessings, not just greetings. And blessings are expensive,” he says, showing a glimpse of wry Bengali humour.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.