The Indian Economy as well as the global economy is witnessing an unprecedented inflationary situation. India is consistently recording its Consumer Price Index (CPI) Inflation of over 6% which is above the ideal range which Reserve Bank of India expects it to be so. In this condition, the expenditure of the individuals tends to rise, but the growth in salary could be slow, so, what should an individual do during such time, let’s discuss this in detail in this article as we move ahead.
Impact of Inflation on Individuals:
Source: Ministry of Statistics and Programme Implementation Central Statistics Office
The impact of inflation on an individual depends on the savings capability of his/her out of his total income. If the expense percentage is higher then the impact of inflation for that person will be larger, and hence, one should carefully assess their inflation during such inflationary times to remain least or unaffected by such high inflation times.
Disclaimer: The information here is provided for reference purposes only and should not be misconstrued as investment advice. Under no circumstances does this information represent are commendation to buy or sell stocks or MF
Originally Published On: https://blog.investyadnya.in/how-to-effectively-manage-high-inflationary-conditions-with-low-salary-growth/