People in Bangladesh began breathing a sigh of relief in August when coronavirus cases receded as optimism grew that they would return to the pre-pandemic level sooner than expected and get their halcyon days back.

But rising inflation, caused by high global commodity prices, supply chain constraints and increasing demand, has emerged as the new challenge.

A pickup in inflation erodes the value of consumer's money, eats up savings, and affects monthly expenses.

The general inflation rose five basis points to 5.59 per cent last month, which was 5.54 per cent in August, according to data from the Bangladesh Bureau of Statistics.

The recent hike of diesel and kerosene has handed a further blow as consumer prices would go up. This is already evidenced by the rise in transport fares.

The blow in the form of higher inflation comes when there has been no rise in income, but expenses are rising. So, it has become difficult to strike a balance between income and expenses. As a result, consumers have no choice but to plan their spending smartly.

In a high inflation scenario, one needs to prioritise expenses so that the household budget remains intact.

Hasan Haque, adviser of LAR Centre, a research firm in Canada, said consumers could think of changing food habits by focusing on less expensive but nutritious items.

"For example, during this winter, you can buy more vegetables in place of red meat."

"A budget plan that is absent in our culture can help limit unnecessary wants and cut needless spending on foods, clothing, and outings," he said, adding that apps can significantly help consumers track and analyse expenditures.

Abdur Rahim, a banker, says he has decided not to buy extra things and goods while shopping at super shops.

"The way super shops are luring people with various discount offers, it's really tough to control ourselves. Being lured, I myself have purchased more things than I need."

"Amid higher inflation, we have to purchase our products consciously."

M Helal Uddin, a businessman, says he is following cost-cutting measures to address soaring prices.

"I made a big hole in my savings because of the pandemic. Now, I am feeling the pinch of higher prices. So, I am following cost-cutting measures. We're not going out or ordering food from restaurants."

Anwar Hossain, a fish trader in Dhaka, is handling the surge in the prices like many other professionals.

"I am minimising wasteful expenses. It should be followed by all."

Hossain is trying to increase income. He buys fish from Abdullahpur in place of Mirpur-1 with a view to earning some extra bucks.

"My planning is paying dividends."

Jamal Khan, a resident in Mirpur, has started doing the grocery shopping at night as the vendors sell perishable items at a discount at that time.

Abdur Rahman, a rickshaw-puller, says he purchases fewer things.

"It will be unbearable for me if the house-owner raises rent. If he increases the rent by Tk 500 to Tk 1,000, it will be a big whammy for people like us."

Parul Parvin, a housewife, and Fuad Hasan, a student, both from the capital, say consumers can save money by buying kitchen items from markets where prices are comparatively lower than other kitchen markets.

Riyadul Karim, a university teacher, advises consumers to plan to use their idle resources to invest in good business, especially in equity businesses with low capital needs.

 "Equity business is tied to corporate income in the long-run, and corporate income increases during high inflation as well."