The rise in commodity prices is affecting common man pockets by at least 10%: Survey

• Around 92% of the Indians say that their monthly expenses have risen in the last three months, as per the new survey.
• 55% of the respondents believe that their monthly expenses may increase by more than 10%.
• On the other hand, 4% said that their expenses have declined in the last three months.

The inflation rate is mushrooming and this is burning a hole in the common man’s pockets. The ongoing geopolitical tension between Russia and Ukraine has fuelled an increase in fuel, edible oil and other household goods prices.

As per the latest data by the Ministry of Commerce and Industry, the wholesale inflation in April 2021 rose to 15.08%, the highest rise in over 16 years.

And due to the increased price of commodities, the common man in India is facing a sharp rise in monthly expenses and general cost of living. Around 92% of the Indians say that their monthly expenses have risen in the last three months, according to the survey conducted by LocalCircles, a community-based social media platform.

And around 70% of the respondents said that their monthly expenses have gone up by 10% in the last three months, while only 10% said they increased by 30-40%, and only 5% said that they went up by almost 50%, as per the data given by LocalCircles report.

The survey recorded over 23,500 responses received from over 12,000 households located across 323 districts of India including tier 1,2,3,4 cities and rural districts.

Furthermore, 55% of the respondents believe that their monthly expenses may increase more than 10%, while 26% anticipate that they will increase by 10% in the next three months.

2% say that inflation is not affecting them

Only 2% of the respondents said that their expenditures are still the same despite the inflation in the market. On the other hand, 4% said that their expenses have declined in the last three months.

While, 5% anticipate that their monthly expenses would remain the same and 14% believe that they may reduce between 10-30% in the next three months, as per the report.

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