Inflation eating up people’s savings

Reza Mahmud :
Increasing inflation of the essential commodities is eating up earnings of almost every income group’s people keeping their savings as zero.

Marjina Khanum, 45, working as a maid in a day care center in a city school in the capital, expressed her woes as she is gasping to meet end of family needs.

“My husband is working a corporate officer in Motijheel and me also involve in hard work in a day care center in a nearby school in Gandaria in the city, but now we are failing to save a little penny after passing month,” she said.

Earlier, Morjina and her husband could save money as both of then are hardworking people.

After maintaining family expenditures, they have bought some pieces of agro-lands in their village home in Noakhali. But in recent days they have no any savings as increasing prices of essential commodities pushed them into hardship.

“We are in hard struggle now to meet ends of our family of five members included my mother in-law and two children,” Morjina said.
“Earlier, mothers of the babies, kept in the day care centers, frequently used to give me tips. But nowadays, I think everyone is in hardship, so such tips are now nearly a dream,” she said.

Similar bitter experiences of hardship have expressed several others to The New Nation recently. Taposhi Bewa is one of them who has taken cutting customers’ fish in market as a profession.

Bewa said that her income has shrunk to such a level that making day end meets becomes a difficult task.

Bewa’s husband is a rickshaw puller. Earlier he used to earn handsome money, but now his income has been reduced significantly.
Taposhi Bewa said she earned sufficient amount in early days.

“I have earned Taka 500 and above in early days after paying seat rent in the market Tk 300. But now I earn Tk 100 or 200 a day only,” Bewa said.

“In previous years, me and my husband used to save money and bought lands in village home in Mymensingh, but nowadays my family fell in hardship due to shrinking income,” she said.

As per Bewa’s observation people are now reduced buying fishes as the prices are now become high.

Besides, she think, most of the people used to take their fishes home without cutting in markets to save money which reduced the income of the women like Bewas.

Several rickshaw pullers, street vendors are also echoed the similar struggle of their lives blaming the inflation.

People from mid-income group also experienced the similar struggling days due to increase of essential commodities. Akther Hossain, a pharmacy businessman in Jurain area, said people are now even reduced buying medicines.

“Many of the patients, I found stop buying portion of medicines due to inability of purchasing. It is really worrisome matter,” Akhter said.

Bangladesh Bank also said that controlling inflation is a big challenge in the economy.

“Controlling inflation is a big challenge now. The central bank has taken several policy level measures which are yet to implement,” said Mezbaul Haque, Executive Director and spokesperson of Bangladesh Bank.

He said after implementing the policy level measures within two or three months, some positive changes could be found.

Meanwhile, eminent economist and Advisor of former caretaker government, Dr. Hossain Zillur Rahman, said, people are trying to survive using self torturing methods.

“People are even cancelling buying baby foods items due to inflation of essential commodities.

There are no way, they are trying to survive by self torturing, depriving themselves from foods and even medicines,” the economist said.