Is the Price rise making festival celebrations expensive?

The price hike in food & grocery items could pinch consumers this festive season

What's stopping people's festive spirit?

Higher prices reducing festive spirits?

Since the pandemic outbreak, the difficulties of a common man seem to be multiplying every day.

From fuel and cooking-gas prices to prices of essential commodities such as vegetables are going up without any regulation, making daily life more expensive like never before.

And now with salary cuts and price rises, there is not much enthusiasm among people for the festivals as the households are finding it difficult to budget resources.

Even though revenge and bulk shopping is not on consumers' agenda, they are spending more.

The reason is an increase in the prices of essential commodities.

Apparently, the delayed withdrawal of monsoon, coupled with the flood situation in various parts of the country, soaring fuel prices, and the festive season demand have all set the prices of vegetables and other food items to shoot up.

The rise in fuel prices has also adversely impacted most essential commodities, whose rates are increasing and squeezing household budgets.

According to market experts, the prices of essential commodities have shot up 40% to 100% in the past year owing to the repeated fuel price hikes

Reportedly, the fuel price hike alone had contributed to a nearly ₹2 per kilo price hike of almost all commodities. Most of the pulses, cereals & other groceries have seen a rise in this range.

While the Centre has claimed it is keeping a tab on the prices, the price rise has definitely dampened the festive spirit of people.

Ideally, in the markets, sales pick up by 15-20% during the festive period starting with Navratri, around 25 days ahead of Diwali. But it seems that this time the current prices are deterring consumers from making a big purchase.