Celebrating Eid getting harder for the vulnerable
As middle and low-income segments of society struggle against the backdrop of a severe cost-of-living crisis, the surge in aggregate demand ahead of Eid-ul-Fitr poses a further hurdle for many striving to celebrate the festival.
The prices of almost every essential commodity usually increase during Ramadan since demand rockets while clothes, footwear products, and other accessories get costlier as consumers open up their wallets to make their holiday memorable.
On both occasions, fixed and low-income people come under stress since the cost of living goes up. The scenario is unlikely to be different for them this Eid. Rather, their struggle has intensified because of the record level of inflation for an unprecedented period.
Kafil Uddin, a medical assistant who provides primary treatment to workers at a garment factory, lives with his three children and wife in Savar's Ashulia area.
Talking to The Daily Star yesterday, he said they are not going to their village home during the holiday owing to financial constraints.
"We have not visited our village home for many months. Therefore, we had a plan to go during this Eid. But we have been compelled to discard the plan as I have no money to afford the travel and associated costs after meeting the regular expenses of the family."
Kafil is one of the millions of Bangladeshis who would struggle to buy new clothes and footwear items for their children and other family members and put delicious foods on the table, a tradition that has taken root in the Muslim-majority nation.
It comes as Bangladesh is battling record consumer prices. Inflation has stayed over 9.5 percent in the first eight months of the current fiscal year after a 12-year high of 9.02 percent in the previous financial year.
Around 5 lakh people in Bangladesh likely fell into extreme poverty between the fiscal years 2022-23 and 2023-2024 due to the erosion of purchasing power, said the World Bank.
In addition, 8.4 lakh people are projected to join the ranks of the moderately poor.
Higher food prices particularly impacted poor households, which allocate over half of their budget towards food expenditures, the WB said.
"For the people like us who are struggling to manage their expenses due to the abnormally high prices, Eid will be a stark reminder of our hardships instead of just joy," said an assistant teacher of a government primary school.
He draws a salary of about Tk 24,000 per month, but still he has not been able to buy anything for his wife, three children and parents, said the teacher with a tinge of sadness.
"My children are crying for new clothes, but I have nothing to do. My whole salary is divided between essentials, medicines, and house rent."
Although consumption climbs for most products ahead of the biggest religious festival of the country, there are products and businesses that witness an opposite trend.
"The real estate business consistently witnesses a slump during Ramadan," said Khan Tanjeel Ahmed, general manager for product and growth at Bproperty, a real estate company.
Nurul Afsar, a managing partner of Broccoli Restaurant on the Sonargaon Janapath Road in the capital's Uttara, said although sales are low in the restaurant sector, staff will have to be paid salaries and bonuses.
"We don't lay off employees even though our business usually experiences slowdown during the fasting month. If a capable staff member leaves, it is difficult to find his replacement."
Proshanta Chowdhury, manager of Konika Colour Lab at Plaza AR in Dhanmondi, said the volume of work usually declines in the sector during Ramadan as fewer people take photos or require their services.