Have you felt the impact of inflation so far? - page 6.

ShowOff

legendary

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Quote from: The Sceptical Chymist on August 26, 2022, 04:11:51 PM

I don't think I'm paying more for electricity per kwh, and gas has gone down considerably in the past few months,

It's definitely different for my country. The status of subsidies seems to be played by unscrupulous elements where almost every month we have to pay more for electricity bills with the same voltage. Gas is still stable because we get subsidies for it, but for non subsidies it is quite expensive.

Quote from: The Sceptical Chymist on August 26, 2022, 04:11:51 PM

but man....food prices just continue to go up and up. I'm not kidding, every time I go shopping the price of things I normally buy goes up just a little bit (and sometimes a lot).

The same thing happened, in my opinion the impact of inflation is so great that for some people it is called a crisis. Freelancers who don't have a steady income have complained a lot, I don't even know how much it costs to eat 3 meals for their family.

Quote from: The Sceptical Chymist on August 26, 2022, 04:11:51 PM

There are so many people dependent on government assistance for food, and I'm pretty sure the amount they get every month doesn't track inflation very well.

Government assistance was expected, but it was not enough. $20-$40 a month "maybe under $40", that somehow only covers a few days of life for those without a regular job. This is really a very bad situation. Suffering is felt by many farmers, crop yields are declining and at the same time inflation is tearing their pockets apart more quickly.

Smartvirus

legendary

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I feel it almost every other day in my country. Worst part is, it never improves. I mean, you go to the market to make some purchase or even give som service man a contract to work a job for you, should you guys not come to terms on the price of materials needed at a time, he or she immediately warns you of inflation. It's always like, next week or even tomorrow, the price might go up. Unfortunately, it always does! It's that bad or sad in my nation and I just experienced one today.
Actually contracted a guy to do some job for me, he gave me his cost estimate including service charge from prior experience of 2weeks ago from a job he delivered another client. Only to go get the needed materials today and the price has increases by 20% of the formal. WTF is that!!!

noorman0

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Quote from: Gayong88 on August 29, 2022, 03:24:09 AM

I think the important thing is that we still have enough money in your pocket to cover your daily expenses even with rising inflation and by lowering the intensity of your lifestyle a little bit during this time.

Inflation affects everyone around the world, this concerns primary needs. While people who think about a fashionable lifestyle are only a few.
Independent economic solutions should be effective for all people, especially for those with below-average lives, such as residents in some countries in Africa and Asia who depend on government subsidies to meet most of their needs.

justdimin

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Quote from: bakasabo on August 29, 2022, 02:02:59 AM

Those who say they dont feel the impact of inflation are living with their parents and the last time they were in shops was with moms. I am used to my utility bills being always higher compared to similar month previous year. Gas, electricity, water and etc are always getting more expensive. But food prices makes me feel depressed. Little comparison - previously I could go out of the shop with two full bags of food for 50 euro, now I get only one bag for same amount. I was amazed how taxi ride cost now. I used to pay 7-10 euro for work-home ride (that is about 10km). On Friday I have paid 31 euro.

I have to say even though I felt the hurt of inflation, I did not felt it as much as the very low income people of my nation. Why? Because I make my income with dollars, so my salary is in dollars, whereas they have a salary in our fiat, and they were already making less than me, and with our inflation being like a million times worse than USA, the rate between our fiat vs dollar went up too.

Hence, I make more than most people in my nation, it is a decent wage, like a very good job, not business or company level, just like someone with a good salary so it is not insane. But people who make the minimum wage? Those people are living in poverty right now, barely find food to eat, it is really terrible, there are more and more people dying of starvation right now and in 2022 starvation shouldn't be a problem if you ask me.

Gayong88

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Quote from: ShowOff on August 26, 2022, 04:07:45 PM

If you were in this position, what would you do? Are you sure the savings you have so far can minimize your financial problems from rising inflation?

I think the important thing is that we still have enough money in your pocket to cover your daily expenses even with rising inflation and by lowering the intensity of your lifestyle a little bit during this time.

Yes, I think I'll go back to the old story again by saving from now on while waiting for the economic policy to take effect. Doing so is the best way to ensure that your savings can weather the storm of rising inflation but if you've been putting off saving, then it's time to start.

One thing is for sure in my opinion that money saved now is worth more than money saved in the future due to inflation.

bakasabo

legendary

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Those who say they dont feel the impact of inflation are living with their parents and the last time they were in shops was with moms. I am used to my utility bills being always higher compared to similar month previous year. Gas, electricity, water and etc are always getting more expensive. But food prices makes me feel depressed. Little comparison - previously I could go out of the shop with two full bags of food for 50 euro, now I get only one bag for same amount. I was amazed how taxi ride cost now. I used to pay 7-10 euro for work-home ride (that is about 10km). On Friday I have paid 31 euro.

Ahli38

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I myself do not feel too affected by the impact of this inflation. But the people around me they certainly feel it. because today the price of food continues to rise, unless the price of clothing does not increase at all.

but for food it actually goes up about 5% every month. for vehicle fuel that experienced the most increase. about 10-15%. but maybe it's not much compared to other countries.

because my country is one of the oil and gas producing countries. so here there is no shortage of energy sources. but still the price of imported goods has increased.

and for electronics prices are now a bit cheap. especially if it's a used item. lately on social media, I see many people selling various electronics such as laptops, PCs, game devices, and other electronics. and the price offered is very, very below the market price (cheap). but today people are more concerned with food than any other need.
such as clothes that have experienced a decline in prices due to people shopping for clothes less and less.

Don Pedro Dinero

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Quote from: xSkylarx on August 29, 2022, 01:42:54 AM

Here in our country prices of commodities such as egg, chicken, pork, cooking oil, sugar, electricity, and gasoline almost doubled compared to its price 12 months ago.

That is why I commented in my previous post that I do not trust the official inflation figure. At least the feeling is that the prices of the things you buy on a day-to-day basis to live on have risen much more than they say. In part it may be a subjective feeling but I'm sure that the data is being made up so that people don't get so shocked.

xSkylarx

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Here in our country prices of commodities such as egg, chicken, pork, cooking oil, sugar, electricity, and gasoline almost doubled compared to its price 12 months ago. My salary is just enough now to cover the basic monthly expenses unlike before that I can treat myself during paydays and still able to save some. Minimum-wage workers here now are complaining about the inflation because their salary is not enough anymore to sustain them. Their salaries is almost half of their utility bill that only few amount is left for them to spend until next month.

dezoel

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Quote from: bitzizzix on August 28, 2022, 05:47:23 AM

Inflation for the economy is like blood pressure for the human body, too high or too low are both bad effects.
In the country where I live, what I feel the most is the increase in basic commodities and also the increase in fuel oil and this leaves traders with no choice to increase selling prices because the increase I mentioned has greatly affected all levels of society.
and one way to counter the effects of inflation is to start investing. Investments have varying returns, but most importantly we must choose investments that provide returns well above the inflation rate.

But afaik a high inflation is more problematic to the people because this makes the price of the items rise but a low inflation rate will be better as this makes our money more valuable. Same with the blood pressure in our body, a high bp is too dangerous as it can cause heart problems or stroke but a low bp is more ideal.

Your country isn't alone with that problem you are facing now but this is also felt globally including on my own country. Investing might help curb out those problems and crypto must be the ideal asset for it because it is known as a hedge to inflation but we can also add other types only to minimize our risk.

Strongkored

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Quote from: ShowOff on August 26, 2022, 04:07:45 PM

If you were in this position, what would you do? Are you sure the savings you have so far can minimize your financial problems from rising inflation?

Looking for additional income even though this is not an easy thing to do in the country where I live especially if only have average abilities.
Savings will only save for a short time because our income can no longer be set aside for saving if it continues in the future the savings will be zero.
I had the same experience selling some coins to cover some expenses to be honest at first I didn't really think this was due to inflation, but after a few months of continuing and calculating every expense, I realized inflation had a pretty big impact.
If the discourse of increasing fuel prices will actually be carried out (it will definitely be done) it will make it even more difficult for low-income people to meet the necessities of life.

mindrust

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Of course... Everything I purchased last year is more expensive this year. Oil, gas, food, water, snacks, bills.. anything you name it. It is impossible to ignore the inflation. Even the very rich people are complaining. The Fed says they will fight the inflation by raising the interest rates and they won't stop till the inflation comes down to 2%. That means the economy will get fucked up pretty badly because if the interest rates goes that high, there will be a recession. The economy will simply stop.

Xampeuu

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in my country because of inflation causing all goods to rise in price. basic necessities, especially those that experienced an increase, followed by electricity and other necessities. felt since the corona pandemic until now. especially after this the government plans to increase the price of fuel oil, this will have an impact on increasing all goods in my country, because everything requires distribution. and of course this will increase crime and and reduce social value between human beings, because everyone will think of himself first

Cryptomultiplier

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Quote from: davis196 on August 28, 2022, 05:16:30 AM

I'm paying 25-30% more for food. This is the worst thing in the current inflation.
My electricity bills are basically not increasing, because the electricity prices for the consumers are regulated by the government in the country where I live.
I don't have a car and I don't buy gasoline. Gasoline prices went up by 30-40%, which makes me glad that I don't drive a car.
I will have to secure wood for the winter and the wood prices are 30% up, so this might hit my budget big time, until the end of 2022.
Everyone, who is a living around the poverty line is being damaged severely by the inflation. The next months will be difficult, but everything will be alright in the end.

From my standpoint, you are not out of place as regards the increment in cost of food prices, electricity bill, fuel and almost all basic necessities one needs for everyday survival. I was not happy with Landlord sometime in May when I learnt my electricity tarrif has increased by ×5. I complained o, but I still had to pay even after we converted to prepaid. I don't have to talk about normal commuting fees for those of us who don't have cars yet. I had almost thought of getting a bicycle onetime.
The inflation I think is global, but I wonder how long it will last. The value of my countries currency right now is nothing to even talk about.
We need solutions. Multiple streams of income. New monetary and exchange systems. God help us.

virasisog

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We're also experiencing a worse inflation crisis these days. Electricity and our daily necessities are continuously rising. Minimum wage earners are suffering because minimum pay isn't enough to sustain our daily needs. Food and bills are hard to afford and we're almost working just to survive. The government can't do anything to ease our suffering but also take advantage of the situation. There's even a salt, oil, and sugar shortage in our country which makes everything more expensive so as much as possible, we're looking for extra jobs to sustain our daily living.

_BlackStar

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Individually I think each of us can overcome and reduce the impact of inflation that is happening right now. Maybe it won't have a big impact on financial stability, but at least it can reduce the bad impact on stability. I think that controlling the flow of excessive spending is one that would be good to practice in daily life. Not spending larger amounts of goods, not panicking too much, and having good financial control.

Investment can also help reduce the impact of inflation in the long term, especially if the assets we invest in can generate a commensurate return. At this point we know there are many assets worth considering, but think about bitcoin which has long been considered to have great potential in helping people mitigate the long-term impact of inflation. Have investment, good financial control, don't panic easily and it will help you to achieve good financial stability.

Mauser

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In my country inflation has been rising like crazy for many month now. Everything got more expensive already before the Russia Ukraine war, but companies use it as an excuse now to ramp up prices even higher. In the supermarket was the first place where I felt the higher inflation. I used to buy always the same brands and products and my bill was usually between 25 and 30 Euros, in the last 12 months I never paid less 40 Euros, and this even included buying cheaper brands. The second area I feel the inflation each month is at the gas station. Fuel became so expensive since the Ukraine war. And the other big sector is the utility bills which increased a lot for the advance payments until summer 2023. Hopefully there will be some normalisation in prices until next year.

bitzizzix

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Inflation for the economy is like blood pressure for the human body, too high or too low are both bad effects.
In the country where I live, what I feel the most is the increase in basic commodities and also the increase in fuel oil and this leaves traders with no choice to increase selling prices because the increase I mentioned has greatly affected all levels of society.
and one way to counter the effects of inflation is to start investing. Investments have varying returns, but most importantly we must choose investments that provide returns well above the inflation rate.

Bitstar_coin

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Man, it is unspeakable the way things are getting high on a daily bases, of course, everyone must be feeling the impact of inflation because am feeling it despite having more than one source of income.
Fiat is so valueless this day whatever you buy doesn't measure up to the money you have spent, the cost of local flight in my country right now is jaw-dropping considering what it use to be just a few months back, just virtually everything you can think of is high and your earnings are not so sufficient to foot the expenses, it is a very hard situation.

davis196

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I'm paying 25-30% more for food. This is the worst thing in the current inflation.
My electricity bills are basically not increasing, because the electricity prices for the consumers are regulated by the government in the country where I live.
I don't have a car and I don't buy gasoline. Gasoline prices went up by 30-40%, which makes me glad that I don't drive a car.
I will have to secure wood for the winter and the wood prices are 30% up, so this might hit my budget big time, until the end of 2022.
Everyone, who is a living around the poverty line is being damaged severely by the inflation. The next months will be difficult, but everything will be alright in the end.

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