Gurugram residents are utilising the demonetised currency notes to stock up on grocery items and other commodities, as they fear prices might skyrocket as an aftermath of the currency crunch. Some shopkeepers are making a killing accepting the invalid Rs 500 and Rs 1,000 notes.
"We have purchased grocery and other household items two months in advance," said Inderjeet Ahlawat, a Sector 7 resident. "The price surge seems inevitable, given that prices of various commodities have already gone up."
Lokesh Aggarwal, another resident, said there had been a spike in the price of wheat over the past few days. "I had bought a 10-kg bag for Rs 260, which was earlier being sold at Rs 200," said Aggarwal.
A shopkeeper who did not want to reveal his identity said many residents were still coming with the discontinued notes. "Our sales will take a massive hit if we don't accept these," said the shopkeeper.
There, however, is a catch to this. People are having to make purchases of Rs 500 or Rs 1,000 only, as shopkeepers refuse to return the change.
