Food and fuel prices are rising not only in India but all over the world

Inflation is rising as supply chain disruption follows Corona

In the wake of rising prices, people have become more inclined to buy cheaper items of lower quality

Budapest: From appliance stores in the US to food markets in Hungary and gas stations in Poland, consumers are facing rising prices. The impact of rising energy prices and supply chain disruptions is being felt around the world. Rising prices for food, gas and other commodities are forcing people around the world to pay more. Which is why people are avoiding buying more.

"We have noticed that we are spending less. We are buying the cheapest and most economical items," said Gabor Pardi, a shopkeeper at the Open Air Food Market in Budapest, Hungary. We know that even if the quality of such items is not good, we are buying such items.

Although the Corona epidemic is almost two years old, its economic effects are still being felt. Now that a new variant of the Corona, the Omicron, has been found, people are again fearing a lockdown.

The countries of Central and Eastern Europe have to bear the brunt of inflation. People here are having a hard time buying food and refueling their vehicles. According to a shopkeeper at Budapost Food Market, his business is declining.

According to him, since multinational shopping malls are offering discounts on wholesale purchases, customers are now moving there instead of coming here. Another shopkeeper said that the prices of items in our shop are high because the quality of our items is good. However, consumers are now focusing more on price than quality and they are buying cheaper items.