Feeling the inflation pinch? Cut back on discretionary expenses

If home loan EMI is straining your budget, ask lender to increase tenor

Mary J (name changed on request), 44, a resident of Mumbai, works with a private company engaged in import and export. In recent months, she says, inflation has begun to pinch hard.  

“Almost everything has turned more expensive — from groceries to transportation costs. Even my home loan rate was increased by 35 basis points (0.35 per cent) last week. Unfortunately, with my company not doing well, I have not received a salary hike in the past two years,” she says.

Consumer Price Index (CPI)-based inflation stood at 6.95 per cent in March 2022. 

According to a Reuters poll of 45 economists, it