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May 18, 2008

Are you concerned about inflation?

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Inflation looks like big problem for the people in India and disturbing too. Meanwhile, this above question would be an adding insult to their injury. No matter how much your income is, but you will be in a mood to chalk out your own budget to spend less and time for saving.

According to the media reports, the inflation rate moved up to an uncomfortable 7.83 per cent for the week ended May 3. Which was the 42 month high? The big concern would be - how to tackle the rising inflation rate. The government and the finance minister would be in wait to see the effect of mechanism undertaken to check the inflation. Earlier, World Bank and Asian Development Bank had indicated that the inflation would persist for few more moths in India. The people might be desperate to see down inflation rate in India. Inflation is very sensitive matter in India but is more psychological for the people and traders. Whenever, there is a talk of inflation in the market, it becomes a more psychological phenomenon. People can feel the psychological impact by paying more for the same goods and services that they used to pay less. This certainly affects the consumers’ behavior and the study of the consumer behavior in this regard would be much more interesting. The inflation rate may come down in near future but the impact on the people would remain. The inflation rate may decrease in near future but it would leave its mark behind. This would a tough time for the people to meet the high prices and maintain their budget.


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