After the impact of the COVID-19 pandemic, the elderly population has been hit hard by rising inflation, according to a study by non-profit organisation Agewell.
The study found that in India four out of five senior citizens are suffering due to rising inflation and according to over 81 per cent of the elderly respondents, inflation is increasingly painful.
The study, titled as 'Impact of Rising Inflation on Older Persons in India (With a special focus on impact on their human rights)', was conducted during the month of July, 2022 and covered over 10,000 elderly respondents from different socio-economic groups spread across 24 states and union territories.
The main objective of the study was to undertake a socio-economic situational study on the impact of rising inflation on the economic status, psychological issues and human rights of the older persons.
Some key findings of the study are that 81.4 per cent elderly respondents (8,142 out of 10,000 elderly respondents) claimed that they are affected by rising inflation.
Lower middle-income groups were the worst sufferers among all, as 94 per cent elderly respondents from this category claimed that rising inflation has affected them.
While in middle income, upper middle, upper income groups, the percentage of these elderly respondents was 86.1 per cent, 71.9 per cent and 26 per cent respectively. Increased prices of goods and services were the most important factor of rising inflation, according to 26.8 per cent respondents.
According to 16.5 per cent of the respondents, their limited or reduced income due to various factors like the coronavirus-induced lockdown, reduced rate of interests, loss of jobs/business is the primary factor responsible for their struggle.
(With PTI inputs)