Shakib* sits in his tiny apartment in Mirpur, staring at his budget spreadsheet. The numbers are grim. He has been working as a marketing professional for a year now and shares a small space with two college friends, each contributing Tk3,300 for the monthly rent of Tk10,000.
He earns a salary of Tk22,000 per month, of which he has to send at least Tk10,000 to his parents back home in Cumilla.
After rent and family contribution, Shakib is left with Tk8,700 for food, transportation, and other essentials. This used to be enough even a year or two ago, but with inflation hitting record highs, every purchase is a plight for him.
“I have stopped eating fish and meat. I can't remember the last time I ate beef. Beef costs Tk800 per kilogramme, and broiler chicken, which used to be Tk100-110, is now around Tk250,” he said, adding he is eagerly waiting for Eid-ul-Azha to satiate his beef cravings.
Inflation in Bangladesh has soared to 9.89% in May, the highest in seven months. For almost a year, inflation has remained above 9%, with food inflation surging to 10.76%.
For Shakib and many more like him, the percentage translates to staunch hardship.
Shakib recalls a time when he and his flatmates could comfortably keep a maid to cook so he could have a warm meal right after returning from the office. But now he has to cook for himself after a day full of work.
“Now we can’t afford to hire someone to come over and cook for us. We used to buy 1kg of onions for around Tk30, but now it's over Tk70," he said, noting that every other essential has hiked exponentially.
"Sugar has gone up from Tk52 to Tk130 per kg. Everything is only getting expensive," Shakib said, further adding that cooking by himself has become a balancing act of substituting ingredients and cutting corners; and Sometimes, it even means skipping meals altogether.
Mariya*, a fresh graduate working her first job in a leading English newspaper, shares a similar struggle.
Living in an apartment with other young women in Mohammadpur, she spends half of her Tk20,000 salary on rent since she can not share a room with anyone. The remaining Tk10,000 barely covers her other expenses.
"Even lentils, a daily staple for us, are now Tk110 per kg. I used to cook every meal, but now I sometimes eat just once a day to make my money last," she said.
"Even basic snacks are out of reach. I can't remember the last time I bought a packet of Oreos, or had ice cream or yoghurt. Those are off the list now," Mariya added.
This situation is emblematic of many young professionals in Dhaka who live alone without family for whom starting salaries hover around Tk20,000, but with essential food prices climbing, their earnings are quickly eroded.
"I try to save by cooking at home, but with these prices, it's almost impossible. Sometimes, I have to call my parents for help. It's embarrassing, but I have no choice," she added.
Imran*, another fresh graduate who is now an intern at a private bank earning him only Tk15,000, shares a cramped room in Dhanmondi with a colleague.
His monthly rent is Tk4,500, leaving him with Tk10,500.
"I can't afford meat regularly anymore. I mostly eat vegetables and lentils, but even those are getting expensive," he said.
Public transport is another expense that bites into Imran's budget.
"Fares have increased, and with the cost of food so high, there's very little left for anything else, I am constantly worried about how I'll manage next month," he added.
For Shakib, Mariya, and Imran, inflation is more than just a number. They are on their own as their families live outside Dhaka and the weight of the inflation only is getting heavier on their young souls.
Shakib has cut down on social activities and rarely eats out.
"We used to go out once or twice a month, but now it's a luxury. Everything is so expensive, and there's no room for extras," he says.
Mariya has also made significant lifestyle changes.
"I used to go to the gym but I can't afford the membership anymore. I try to exercise at home, but it's not the same. I miss the social aspect, too,” she says.
The relentless rise in prices of essential items has made life increasingly difficult for young professionals in Dhaka.
Over the past five years, the cost of miniket rice has increased by 17%, while coarse rice has jumped by 30%, according to the Centre for Policy Dialogue (CPD)
Paijam rice has seen a 15% increase. Lentils have risen by 95%, flour by 40%, and refined flour by 60%. Soybean oil has increased by 84%, and palm oil by 105%.
Beef and chicken prices hiked by over 50%, while sugar prices have increased by 160%, with a kg selling for Tk130. Garlic prices spiked by 210%, dry chilli by 110%, and ginger by 205%
These rising costs have turned essential goods into luxuries for many.
Shakib, for instance, used to enjoy fruits now and then.
"I loved having bananas or apples, but now I do not even stare at the fruit market," he said.
In the meantime, some of the young professionals continue to adapt by cutting back on expenses and taking up side hustles.
Shakib has taken up freelance work to supplement his income.
"It's not much, but every bit helps. I write articles and do some graphic design work in my free time," he says.
Imran is considering moving to a more affordable neighbourhood to save on rent.
"It's not ideal, but I have to think about my finances. Every penny counts," he says with a long sigh.
*The names of the actual people have been changed in this article in respect of their privacy.
