Topic: Have you felt the impact of inflation so far? - page 2. (Read 1583 times)

Everyone eventually does, including the government, which prints frequently because the papers they print are becoming worthless, but what is riches if not invested?

I'd want to use my own country as an example: A dollar's value on the parallel market at this time last year was around 480/$; now, it is worth around 730/$, a rise of 34.2%. The inflation rate as of September 2021, was 16.63%, and when compared to the inflation rate of September 2022 was 20.5%, an increase of 3.87%. In my country, if a rich person wanted to protect himself from inflation, they would be (34.2%-3.87%) 30.37% ahead of it, and he would effectively have nothing to lose.

I know $$ has been shitty in his home, fighting inflation too but there are other countries who depend on them as a reserve and thus, they always used it as an alternative to stay ahead of inflation and it was the same CBN that was supposed to be helping people fight inflation that is making same dollar scarce giving people to exploit(smart move) this as a deflationary tool.

a few months ago I said that inflation had little impact on me at the time. but now inflation is really felt. Not only because the price of fuel or energy is increasing but because food prices are starting to make no sense.
but there is something that worries me is the price of vegetables in the market is really falling. many farmers lost. when the price of fertilizer continues to increase. but the yields have fallen drastically. I am worried that many farmers will stop farming. because it will make food stocks depleted and create a food crisis. different from the price of wheat which has increased. but the price of rice as a staple food in the area where I live now has not increased at all but has decreased slightly. so that there is an imbalance between the capital to cultivate the land and pay the costs of labor and fertilizer with the income from the harvest. So many farmers do not benefit from their agriculture.

So what I mean is that the impact of inflation is even now starting to be felt by the farmers. because I often chat with the farmers I know. and they told me about it. I'm even now starting to be frugal to be able to save in preparation for this inflation if it gets worse. I hope all my friends here have also prepared themselves from now on. because we do not know that this economic crisis will end quickly or will it last a long time.

That's true inflation is affecting all the classes and sections of society no one can ignore this problem.  Difference is rich people although they feel rise in prices but they can afford basic commodities and food items. Poor on the other hand they strive and fight for food on their table on daily basis this is extremely alarming situation . The bills, the prices of living everything has increased drastically.
In many countries crime rate has increased because of inflation.

It's the number one thing that I discuss with my clients when financially advising from day to day.  Now more than ever is showing my clients how important it is to be diversified with your investments, to not be sitting in low earning/yield savings accounts year after year.  The truth is it's been a good lesson.

That said, it's killing me, my clients, my friend, the entire world.  The US is around 8-9%, this is a 40 year high for the US.  It sucks, I really feel it at the grocery store!

Even in this case not a few rich people are also affected.
Regardless of anything, don't think that the rich don't care about their money because it's a fact that I think the rich are still very much affected by inflation.
Currently in my area a lot of people complain even from all walks of life not only the poor because they feel the difference in prices of some products, especially in terms of food and this is the result of rising prices caused by inflation.
Not a few of them are also rich people which makes me pretty sure that it's not only the little people who are having trouble now.

Yes, when inflation is this high it is almost impossible to not notice it regardless of how much money you may have, after all since inflation right now is mostly being caused by printing too much money, the cost of oil increasing and the increase on the cost of imports, then almost every single product is going up while our salaries remain the same, now the rich and the middle class have some margin to maneuver but those that are poor cannot do that, so I expect social movements to emerge during the next months or years and some governments falling because of them.

True, on my case and for the case of many other. Inflation is totally felt by many and that's why this is a world crisis that we can't avoid. Everyone is simply affected except the rich folks. From the poor to average people, we're all affected and noticed it.
Consuming goods have became expensive, continuous oil price hikes and it seems that it won't stop at all. While we spend a few bucks before, there can be many basic needs that it can be filled, now, you'll have to pay more because of the inflation.

Inflation can never go unnoticed in today's time because all the world is suffering from this inflation. Specially third world countries where inflation has made life of people miserable and really difficult as they cannot even afford to buy basic food items and daily goods as price of everything is increasing. Either it's oil or its basic commodities everything is becoming out of reach for poor peope. You cannot waste your money on luxuries.

The days go by so fast, and I hope this thread doesn't go out of style to get attention again.

I emphatically say that the government of my country has made several efforts that may indirectly have made many of its citizens feel the impact of inflation more severe. Of course they raised fuel prices even though they distributed a number of aids to certain groups who were entitled. But until yesterday afternoon, a manual laborer was still complaining to me about how bad this government regime is to its people. $10 may no longer be worth much when they want to shop for necessities, that's because the price of groceries has increased in the market.

Many people earn no more than $5 per day, this is clearly a bad economic condition for them. Improvements in economic conditions are highly expected, otherwise the problems of unemployment and poverty will continue to increase.

I have been slapped in the face because of the inflation.
Believe it or not for last two years, I didn't purchase any new clothes, shows, cosmetic or any decorative item. I was so fond of.
But even after not buying for years. My cupboard are overflowing with stuff.
Minimalist is the new fashion these days - travel light - live light

This proves that whatever anyone can imagine is independent of global variables, he is delusional. International products are subject to prices linked to international price movements. Inflation, when it appears in the smallest economies of the world, has an impact on the movement of the local market, so that the regional market is affected, and in a developed stage the global market. This is a domino effect as can be clearly demonstrated .

Any spendings that do correlate on things that could make you possible to make income is something considerable.It might affect your overall savings for emergencies or funds been saved for common purpose but don't mind out that much so that you won't really get stressed out.We do have different ways and decisions in life in fighting and sustaining or surviving ourselves against inflation.It would be common sense that we should be finding other sources of income for at least try to ease such condition.Rich becomes even more richer and middle class pays more taxes and poor gets even more poorer.

I couldn't do the same thing and that was a scary period. I mean think about living in super high inflation and then not earning too much more, earning about the same amount of money. Thankfully I arranged my life to spend less, but for a while it cost me a lot of money to do that, now I got a new PC as well which means even more debt, but I guess I can handle it and it shouldn't be a problem.

In the long run, we are talking about something that is terrible for people who do not have "excess" amount to shred. If you were already in poverty line, and inflation happened, that meant you were in starvation levels now and that was a horrible period.

This is good for you and great it is working out for you.  Yes, in some cases less is more but also during these time of inflation we will get less goods and it will require more of our money.

Unless money is of no object and one doesn't care, then we have all felt the impact of inflation.  It's just too easy to see in everyday life and it's ubiquitous, everywhere and we the consumer are at the bottom of the funnel getting dumped on.

Everything is high this time, food prices, electric bills, petrol rate, and the rest of our necessities. And with these price changes, I think everyone is definitely affected with this never ending inflation. This is why working alone in our 8-hour day job job may not be enough to sustain all our basic needs. We need to have additional income, and of course investments that will provide us multi sources of income.

Foodstuffs are most pronounced in today's increase and obviously in this case will be a domino effect that will certainly be felt for several times because starting from Inflation makes prices rise especially in basic commodities which creates other problems such as hoarding of foodstuffs and obviously makes it is increasingly rare and expensive, not to mention the damage it causes to people in low economic strata who are one of the forerunners of the famine.
This is very difficult to avoid I think.

Third-world countries will only focus on survival. Despite lots of opportunities and job alternatives these days, if the value of necessities are continuously increasing, everyone will surely struggle. In our country, the crime rate has increased since this crisis started simply because everyone wants to continue living and wants to survive. That is one of the negative impacts of the inflation crisis. Unemployment rate is also increasing and the number of out-of-school youth is also rising because some of them just want to work since they can't sustain their studies. Everyone is in the midst of a crisis but I hope that everyone could find ways to live and survive the right way because this too shall pass and things will get better soon.

ABSOLUTELY!
I have to make the word in BOLD font as people in here are literally not ready. Look at how struggles, even those who were in the  average line financially have felt it. The rise of price in necessities caused  by the increase of price in oil.
High unemployment also adds up in the current financial burden. Though most of the people in the 3rd world country are naturally born survivor, but todays inflation really hurts everyones pocket  and stomach.

We are experiencing inflation yearly because our fiat money is slowly depreciating.
The problem right now is, it went very high that most of the people especially in the 3rd world countries aren't ready for it.

As for me, I felt it so much. Fare here in our country is higher than what it is a year ago because of the increase in Oil. Prices of commodities are going high because inflation is high. The unfortunate part is some of the people here in our country isn't ready for it and they are doing the best that they can just to survive. Some only eat twice a day instead of three. Some are finding a 2nd source of income aside from their primary income source. There are some who are gambling as well just to have money to be used in their daily lives which is the thing that I don't want to do myself. There are some who are just begging around the streets just to have money which is the sad thing.

Food prices increased because of inflation, and it is affecting all of us. The salary of most of the people here increased but not enough. I felt the impact of inflation but lucky for me, I'm ready for it because I have emergency funds that can be used if needed.