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Inflation - The Monster!

In 1990, a litre of fuel cost Rs 6.36 and a movie ticket cost Rs 6.50. Today, a litre of fuel costs Rs 48 and to watch a film, you have to cough up Rs 130! Most of this unsavoury escalation is attributed to inflation.

Going by today’s prices, you may estimate your daughter’s wedding to cost you 10 lakhs. But you have already begun saving and so you think you have everything under control. Sorry Dad, you don’t. About 20 years from now, when she is ready to marry, you may need about 25 lakhs! Blame this unfair rise of prices on inflation.

Inflation is currently around 5.5%. If the interest rate you earn is less than 5.5%, your savings are not keeping up. In the present scenario a savings account gives you up to 3.5% interest!

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