Already Indians are facing high “inflation” due to various socio and economic reasons. Traders end-up price hike of FMCG Products and daily essentials showing the cause of “covid” where Indians have to bear the heat of price hike in every essentials.
After the covid cause, traders are looking out for another cause showing “Russia-Ukraine War Tensions”. Already cooking oils and day-to-day essentials prices have reached to the sky levels where a common man is suffering a lot!
Another major concern is raising petrol and diesel prices. Today every household is dependent on transport vehicles where every service would be effected by the petrol hike.
Even though petrol prices have been steady for the past 3-4 months, Government decision to hike diesel prices to 25 Rupees per litre on bulk purchases worries indian households a lot on further increase on daily essentials sooner
As per the Recent notification released by the government from today(March 22nd,2022)petrol prices have been hiked by 90Paisa/litre and diesel prices by 87 Paisa/litre where it might raise in the future too if the Russia-Ukraine war escalates!
Now it’s turn of LPG Cylinder- 14.2 kgs domestic LPG Cylinder price has been hiked by 50rs where in major cities Price of LPG Cylinder has crossed 1000 Rupees mark!
What to do to beat inflation in India?– Generally Indians are natural savers, they tend to invest in traditional instruments like gold, bank fixed deposits, chits, post office small saving schemes etc.
But in these highly inflationary terms those traditional saving instruments won’t beat inflation. So you should “Invest” in products which beat inflation. Some say they don’t have sufficient money left to invest! Do remember today if you don’t have money to invest, then how would you survive in the future? Have you ever think about this?
Inflation won’t cease even your income raises or not; it is a “Silent Killer”. It decreases your purchasing power of money. If you don’t invest in highly return products, you would find it difficult to meet your daily expenses. So change your approach and take some risk. Do remember risk is associated with highly return products. So analyse your risk profile and decide on which investment product to select and keep on investing till you achieved your target amount.
Keep in mind to beat inflation one should not “save” rather “invest” in investment products which beat inflation.