Inflation pushing people below the poverty line
Thursday, 31 December 2009
Enamul Haque
MONEY, depreciated by inflation buys less of goods and services. Inflation also erodes the value of savings which is important to people keen to make both ends meet. Odrinary people who cannot increase their earnings, have obvious concern about the value of their money. Saving out of their hard earned money will not buy even a fraction of what they planned. Inflation, unless tacked, would only discourage saving.
The value of provident fund, retirement benefits and gratuity of the salaried is eroded by inflation. The fixed income people, who cut current consumption and keep aside money for children's marriage or buying a house, are frustrated by inflation.
Inspirational rhetoric of government leaders who say that people's income is growing, hardly cares about the ground reality.
Inflation, unless tackled could make the goal of poverty reduction elusive. In the UK inflation above 2.0 or 3.0 per cent would raise an alarm.
Inflation and price rise affection living costs ought to worry the authorities. The common people in the country suffer more due to indifference of the authorities.
MONEY, depreciated by inflation buys less of goods and services. Inflation also erodes the value of savings which is important to people keen to make both ends meet. Odrinary people who cannot increase their earnings, have obvious concern about the value of their money. Saving out of their hard earned money will not buy even a fraction of what they planned. Inflation, unless tacked, would only discourage saving.
The value of provident fund, retirement benefits and gratuity of the salaried is eroded by inflation. The fixed income people, who cut current consumption and keep aside money for children's marriage or buying a house, are frustrated by inflation.
Inspirational rhetoric of government leaders who say that people's income is growing, hardly cares about the ground reality.
Inflation, unless tackled could make the goal of poverty reduction elusive. In the UK inflation above 2.0 or 3.0 per cent would raise an alarm.
Inflation and price rise affection living costs ought to worry the authorities. The common people in the country suffer more due to indifference of the authorities.