From next year, the effect of inflation will be seen on the prices of everything from food items to clothes, shoes, cars, bikes etc.
Your home budget is going to be bad in the new year. From next year, the effect of inflation is going to be visible on the prices of everything from food items to clothes, shoes, cars, bikes etc. As WPI figures hit a 10-year high in November, the impact of inflation could continue into next year.
You will have to spend more money in the new year to buy your daily food items from coffee to snacks. Nothing will be cheaper from the new year including bread, packaged food, drinks etc. Their prices could rise by 5%.
Due to these reasons the price will go up
The main reasons for rising prices are expensive labor, freight and expensive petrol and diesel. Their prices have peaked over the past decade. In the food sector, the price of imported hard drinks like alcohol and energy drinks will also be higher.
The car will be expensive
Many car manufacturers are going to increase the price of cars from the new year. In the fall, Hero MotoCorp, Kawasaki and four-wheeler Maruti Suzuki, Tata Motors plan to raise prices in January this year.
Clothes and shoes will also be expensive
GST is also set to change in January. For this reason, 12 per cent GST will be charged on listed items like clothes, footwear etc.
Ordering food online will be expensive
However, this tax is only being transferred from hotels to aggregators. However, it can also be heavy on the pockets of customers. According to experts, if the restaurant is a registered entity, it will not have any effect on the end consumer.
This product will be cheaper
But with edible oil you can get relief. According to a report by the producers, the price of edible oil has been reduced by 10-15 percent. Hopefully the new year will bring relief with a decline in international rates and a good harvest.
Trade setup for today: check these statistics before opening the market, it will be easy to catch profitable deals