SRINAGAR: The rising inflation is giving tough times to the general masses in the Valley of Kashmir. The monster of inflation is impacting all important sphere of life in the valley of Kashmir. Pertinently, Inflation means paying more for goods than what you were paying earlier. Off late, not only indispensable goods have seen a price hike, non-essential items have also seen this hike.
The worse part of it is that rising food prices have far outstripped the growth rate and overall income rise of masses. Tomatoes, Peas, onions, eggs and many types of pulses are costing twice as costly as they were about a year ago.
From bakers to butchers and transporters everyone in Kashmir has increased the prices and has been following the trend continuously. According to experts the often hikes have more severe bearing on the inflation given the upcoming tough winter period.
This hyper inflation in Kashmir has hit the common man the most. Kashmir’s logistical handicap has another reverse effect – its exports lose their competitiveness due to the relatively high transportation costs. To cope with inflation, Middle income group have cut back consumption wherever possible, buy cheaper products given alternatives, postpone the purchase of little indulgences and cut out discretionary spend altogether.
Adil Ahmad, a student stated – “Inflation is hitting hard every important sector of life in Kashmir. It is a known fact that inflation always hurts basic standard of living and worst hit is the man on street. Rising prices means you have to pay more for the same goods and services. If your income increases at a slower rate as compared to inflation, your standard of living declines even if you are making more. Inflation’s main consequence is a subtle reduction in your standard of living. Inflation doesn’t affect everything equally. With food sucking up more of the incomes of households their saving is likely to disappear altogether.”
Masses who are hit hard are appealing that the concerned authorities wake up more seriously to the challenges posed by the inflation and draft a visionary mechanism to tackle this monster of inflation as soon as possible. (KNB)