Topic: Food prices doubled this year - page 12. (Read 6695 times)

In this part of the world where I'm from right now, the price  has not just double it has jumped to three times and this is so frustrating. You really can't imagine how life is it for the people living in the place. The price increament came with no major increase in salary or wages. What that could take you for a while month before can no longer take you for a week now. And people need to take extra jobs to be able to meet up with the daily needs. To make it worst the lockdown issues is not helping either, you can work if you don't go out and if you dont go out. You can't get paid. That is how bad the situation is right now. Covid-19 has messed the whole thing up.

Well you can say that again, Agriculture which our own government have encouraged most people to get back to and have been doing a bit well is now been treating by the highest levels of insecurity in the country. Almost every part of Nigeria is now almost insecure and farmers are been killed in the dozens almost every day coupled with the problem the country just the rest of the world have been battling with, covid 19. All this have made the cost of living extremely high and the cost of food stuffs have become insanely high. 

Of course, you can not take into account natural disasters that are associated with global warming, which greatly affects the price of food, but this fact can also be mainly explained by the wrong actions of the government, which, in the fight against the economic crisis, in order to save business, prints large volumes of paper money, which leads to inflation and, accordingly, to an increase in the price of all goods.

I will add a little. An interesting nuance is obtained - the population is left without work, it becomes poorer, the cost of food is usually reduced. The idea is that the business should reduce mark-ups and make products more affordable so that more consumers can purchase them. But for some reason, almost everyone follows the path to INCREASE prices STILL, focusing only on the solvent part of the population, which in fact pays out of their own pockets for the decrease in the turnover and profit of sellers. But this cannot continue indefinitely. In critical times, behavior is more logical, this is my opinion, a decrease in margins and an expansion of the audience, than an increase in margin + increase in prices + targeting a shrinking audience. But maybe I'm wrong about financial and market theory.

Yes indeed! It is the same case in our country. Everything doubled in prices not just in food but in other consumer products as well. But the most impacted consumer product that increased in our country especially now is the meat. It increased more than 100% and even more (pork). I am not sure if this is plainly inflation or the demand of meat really increased during this pandemic but it surely affected many businesses as well (restaurants and other vendors) and so affected the economy of the country as a whole. I do hope that after this pandemic, prices will also go back to normal. It is hard to see people having hard time to buy basic necessities like food because if this surges of prices.

This global crisis, and this is how one can assess the Covid epidemic19, has a distinctive feature. If world crises were previously usually associated with financial bubbles, now, due to forced quarantine, restrictive measures, etc. steps not only suffered, but actually stopped entire sectors of the economy, and because of the long "downtime" the majority will no longer restore their work. And these are millions of unemployed, bankruptcies and poverty in millions of families, and a sharp increase in the burden on the budgets of states. BUT - the economy is also in a stupor, taxes are no longer coming in the same volumes as before, and the state is FORCED to turn on the "printing press". We also need to provide social assistance to the victims, pensions, insurance, compensation schemes. And here the printing of money is justified. But it seems to me that it is more correct, since they still print money, then direct it to re-create and support business - and these are jobs, these are taxes to the budget, this is what will revive the countries and their economies, although it will give inflation. Simple "eating" of money by the population is a road to nowhere, the money will soon run out, the economy does not work and cannot restart, new money must be printed again. A vicious circle ...

But we can't just blame one side, or blame the government for printing more money.  The fact is that this pandemic has indeed had such a chain effect that the government has to print money.  The final impact is inflation in society, especially in basic needs, namely food.  The government is unable to bear the livelihoods of the people in their country, this is the most feared crisis besides world war.

The more the money is printed, the more purchasing power of the people will increase and as a result all the items and food will become expensive.

People think that stimulus checks are free money but they don't realize the after effects of this when everyone get this free money, it will increase inflation and the rates of everything will go up.

The point is not only that many countries are suffering from the economic crisis as a result of the pandemic, but due to the fact that the government is issuing new voluminous paper money, provoking inflation, as well as creating new taxes and raising old taxes for business, which in turn casts a big shadow of the rise in prices for all consumer goods, including food.

With such a large amount of money circulating in society, hyperinflation is very natural.  The price of food as a basic need is most affected if the money in circulation is not matched by the fulfillment of supply from the seller.  However, if you look at conditions in my country's market, prices have indeed increased quite significantly.  Never mind the basic carbohydrate needs.  For vegetables that are used as vitamins alone, the price goes up by 50%.  It's sad isn't it?

Our government is still doing everything possible to ensure the price of food items remain the same, as it was before in the country. Many farmers has been given farm equipment by the government to ensure there is steady crops in the market for consumers to get it at a cheaper rate in the market.
My country is not experiencing any lack of food items despite what covid-19 has done to other countries economy that made their food items doubled up in the market.

If you look carefully, you can see that the commodity prices are increasing almost uniformly (with gold being the sole exception). Crude oil, food, real estate.etc are at least 20%-30% higher than last year's levels. Hyperinflation is already here. The governments around the world resorted to unlimited printing of banknotes, giving the excuse of COVID 19 pandemic. Now the results are here for everyone to see. Purchasing power of fiat currency is going down, and that is what causing the sudden increase in food prices.

Indirectly, it is inflation of money due to which the food prices increases.
If you have 0.01 in bitcoins. you can buy more food from it in 2021 as compare to 2020 while if you have 100$ you can buy less food as compare to previous year. That's why we need to have bitcoins with us.

I think all countries face the same imfact after Covid hits.
Food increase its prices because it is the main needs of individuals. Suppy is getting low because of travel bans.

Obviously, food prices rise not only, perhaps this is the effect of the global pandemic of the corona virus, affecting the economy enormously, and everyone feels the impact of this pandemic, hopefully by adhering to the health protocols and regulations issued by the government in its problems will accelerate the dissolution of the corona virus chain and will thus address all of its current problems Our lives and our lives can go back to the way they were without the current protocol, and obviously we don't know when this pandemic is going to end, because it's not going to die down, not to mention the natural disasters that are currently sweeping in some areas of my country, and the government is currently trying to recover the state of the national economy in the face of the current economic storm in my country, and I think it's pretty much any different Went through the same thing

 
Despite the fact that the hype over all these covid-19 pandemic calm down, still we face up with its consequence. Doubled prices for all the goods are not the only one thing that happened. Lots of small companies were closed; as a result lots of people lost their works; people in depression made suicides, a lot of those who were ill still suffer from after-effects of covid, the others are going to be vaccinate with some strange vaccine that can have some unknown after-effects that might be worth then consequence of the disease. If such situation will continue economy of my country will crash totally.

It's look so strange that food price of food exporter country is rise while there are no significant increasing price of food in my country which always import food from other countries. I think it's not because of inflation but maybe it's because you're country economy is not so good now. Your country should decrease the amount of food that will be exported now. Maybe this is the impact of covid19 too. Keep strong mate, I hope our economy condition always growing fast.

Our modes of transportation here in the Philippines doubled its fare but not with foods. My country was one of the tragically hit by this pandemic added by ASF virus to pork. It spikes prices but still the same income. I think we all have to sacrifice our old lifestyle in order to survive this uncertain times.

We can't lose hope, as it's the only thing that we all have now after this pandemic.

We are looking forward as we continue accepting all those changes from our daily lifestyle, a lots of businesses are being close and now we are already seeing some to comeback and reopen, establishments who are now being open are surviving from this set up, hopefully after this year we will see much better economy not that the same before covid but much better than from when covid hits up.

Government increment the rate of certain nourishments and other areas yet stable because of their flexibly and demand  The Covid-19 exceptionally sway on our economy and shut a bunches of business and a large number of us lost our jobs.
At any rate, we ought not to frustrate since I accept these all are brief and everything becomes normal after a few months. I hope next year brings something special to the world, especially for the bitcoin community.