Increase in the household - expenses of the middle class

Soumya Evita Jun 6, 2022 573 0

There is a pinch of inflation intensifying in the households in this country. About half the Indian households have stated that their monthly expenses have increased within the past few months. The rising prices of goods like petrol, edible oil, and household essentials have had a great impact on every middle-class family. 70% of Indian households reported an almost 10 - 15% of jump in their monthly household expenses.

Compared to the year 2020, the cost of the household essentials for a small family of four has increased by more than Rs 2000. The workload on the lower-middle-class people has increased due to inflation. They are compelled to work extra. High inflation has become a pain point for everyone, from companies to households. The increase in prices of daily essentials has prompted households to cut back on other expenses or switch to smaller packs and cheaper brands.

Housewives from Patna share their views on how their monthly budget has taken a huge turnover after the hike in prices.

Ankita Kumari said that the household necessities, electricity bills, and school fees of the children seem to have touched the sky. With the increase in the price of petrol as well as LPG gas, the family of 4 has been cutting short all their expenses to comfort. Shreya Singh said that this inflation is a big burden for the daily wage families. Due to the hike in prices of different goods, electricity bills, and house rents the family had to change the school of their children. According to Avni, the period before covid was better than what it is now. the family of 5 managed their expenses within 15000 – 18000 Rs per month and now their expenses monthly are above 25000 Rs.

According to the resources, there are about 26% of respondents expect an increase in their household budget by up to 10%. Every middle-class family can feel the heat of inflation and could be seen struggling with the monthly budget.