Ways to Control Food Inflation
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- Category :Finance
Ever expanding population and new challenges like environment volatility are creating new avenues for rising food inflation. Other factors like rising wages, rising prices of transportation and even tax burden can lead to inflation. While policy makers struggle to deal with them, a common household needs to find its own ways to deal with it. It is here that these simple tips can be very effective.
Even during these times of economic depression, food inflation continues to rise, adding salt to the injury of the common man. For a large majority of people the world over, it is creating a challenge that they must find a way to deal with. Here are some simple suggestions that one may wish to think about….
Food Inflation is going to be a part and parcel of our life from now onwards. There are many reasons for this phenomenon to continue unabated for the next couple of decades at least. The first is the growing global population, which is inflating at a speed that is not matched by growth in global food grain production. The second is the changing demographic profile.
In most developing countries, the majority of population is very young and as these youngsters grow, there demand for food will also grow. Third is the increasing unpredictability of weather with changing climate, and lastly, agriculture is hardly the center of market attention, and as a result, it is often neglected by all.
Thus, for you and me, there seems to be no option, but to find new ways and means to minimize the impact of this food inflation on our budgets. This is particularly so if you already suffer from budget constraints. Before we move on, let me clarify that everything that we do has a cost. To be able to gain something, we need to give up something else. So, to a large extent, it becomes a matter of priority and preferences. If you are feeling a real pinch, you may try some of these suggestions.
Buy Selectively & In Bulk
Various shopping centers keep changing the rates of items they sell, by offering selective discounts on some items. Many of these discounts are on food items. You need to find out the best bargains of the day and do some bulk buying to make a difference to your budget. Bulk buying makes sense for multiple reasons. Large packages often turn out to be cheaper, and give you a better return for your effort. Economically too, when inflation is high, buying earlier would be better than buying later. This however, means more visits to shopping centres and spending more time there. It would be best if you live in the vicinity of multiple shopping centres and have enough time on your hand. After all, you cannot take a break from your office to wander in the shopping malls.
Eat and Drink Seasonal
The prices of perishable items like fruits and vegetables can vary significantly from season to season. If you are feeling a pinch in your pocket, you need not stop the consumption. Shifting your preferences with the season and availability might serve the purpose. It may mean that once in a while, you may have to discipline your urge of buying some high priced, non-seasonal, food items.
Cook if you can
Shifting from cooked food to self cooked food can make a huge difference to your budget, even if it is done on an occasional basis. Even if you are not a cooking expert, it may be worth giving it a try. It is definitely not one of the easier solutions, as cooking demands a lot of effort, but then no food can ever taste more delicious than the one you have cooked yourself – provided you reach that stage!
Eat Together
For a family, eating together, even if it is only once in a day, can save your resources and help you organize your finances and budget better. When we eat together, the wastage is less and so is the effort. Buying in bulk can become a more acceptable option even for the cooked food. Not to mention of course, the personal bonds and relationships that you would be nurturing in the process.
Have a relook at your Menu and Eating Habits
A little bit of manipulation in you menu and eating habits can also allow you to incur substantial savings without really giving up much. All you need to do is plan a bit more, avoid ad hoc buying and stick to the details that you have planned. In the process, you can also adjust your food to make it healthier. Reduce your fat intake and add some green to you plate. Your children might be eternally grateful to you for that.
Grow if you have space
Lastly, and this option depends upon the availability of land, you may also think of having a small kitchen garden. There are a lot of things that you can grow without much effort, and believe me, it will give you much more than what you grow. To see something growing and to experience your efforts bearing fruits is a return in itself.
These are just some of the ways that you can look at, when food inflation begins to pinch your budget. Rather than cribbing and cursing that only adds to your frustration and does not solve anything, these efforts can help you grow as a person, bring additional fulfillment to your life and also help you in taking care of food inflation.
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