Topic: How is the cost of living in your country? - page 2. (Read 1522 times)

The government is not able to handle the global crisis because it has affected various aspects of the economy, one solution the government should have is to support micro businesses and farmers to sell goods at lower prices than imported goods, but the government's efforts are not carrying out that interest and they want to secure their personal finances and assets from the impact of inflation today, we should not depend on anyone and we should look for opportunities to earn income, I am happy to see the crypto community looking for opportunities to improve their finances, on average they earn income from airdrops and there are many other opportunities to earn income on the internet according to your abilities and skills.

Things are looking like it is getting a lot worse these days, recently too. Not because we have seen covid or anything because that happened a few years ago and it sucked when it happened but this is now, years after and things are still not great.

The sad situation is that inflation is high, and the interest rates are high because of that as well. This is why there isn't really any way to make money, everyone is trying to put their money in savings, because they know that interest will not stay this high forever, meaning that they have a limited time to make as much as possible with this high interest.

Because people are not spending their money, that usually means that we are not seeing them investing into anything or not even purchasing as much as they used to, and that's causing a lot of trouble for everyone, loans are impossible to get with these rates as well. This is why making money is harder too, I am making nearly the same amount of money, and yet everything is twice more expensive, but life is fine, because I am doing alright with my income, there are people who are going hungry right now.

This is why we should be careful with our future and be ready for it as well. I think the best way to go about this situation would be just waiting it out, because we can't do much right now and it is not going to end up with anything good anytime soon, so just wait the period out and I am sure that eventually things will get better.

I heard about the ongoing crisis in Bangladesh, the worlds economy is crumbling coupled up with Crisis in different Nations, I'm from Nigeria and a lot is happening in my country too, the average man can't afford basic things anymore cause the inflation is unlike anything we have ever seen, depending on salary alone would be a very dangerous thing to do cause you might end up in a lot of debts.. it's time to take advantage of the internet and make money from it, the presidents and leaders don't care about their citizens, so people have to make a way for themselves

You are right, currently the situation in Bangladesh is going to be dire. As the prices of food items are starting to increase day by day, it has become difficult for common jobbers and day laborers to run their families. Meanwhile, the dictatorial government in our country, Sheikh Hasina, has resigned. Today I saw in the news that our Bangladesh has a huge debt, to repay the debt, more VAT will be levied on food products, then the price of food products will increase. In our country where I live a day laborer earns around ($4+-) per day. You have mentioned how much the price of food products in Bangladesh has increased, then how will a day laborer manage his family? How will a day laborer collect money for the future? In a word, it can be said that it has become very difficult to run the family of low class people in our country.

I know your post is a bit old, but I missed it and this thread for some reason.  Whatever, you nailed it right on the head with real estate (and rental) prices.  Don't know what country you're in, but the US this is what the market for single family homes has been like for the past 5 years:

https://www.redfin.com/us-housing-market

That varies by state, but no matter how you slice it, that's a lot of money to own a home.  And I've seen the price of apartment rentals skyrocket in the past 10 years; it's amazing that there aren't homeless people living on every single block in the US.

And this is what inflation has looked like in the US roughly since before COVID botched everything up (in percentages):

https://www.usinflationcalculator.com/inflation/current-inflation-rates/

Fortunately it looks like inflation is coming down, hence all this talk about interest rate cuts and such.  I'm waiting for a sustained trend before I believe we're not headed toward hyperinflation--but maybe that's the bunker-building, tin-foil-hat-wearing paranoid sidewalk-screamer in me talking.  Heh heh.

Generally their are cost of living crisis going on in most part of the world right now, and if Australia inflation rate is just 4% then I wouldn't be that bothered if I was there, because in my country right now, the inflation rate is at 33.95%  right now, which has triggered a nation wide protest, which start since the beginning of August, theme: end bad governance and hunger

Though right now, the protest is getting more messy as days passes by, because the president of our country have failed to address the demands of we the protesting youth, because as it stands now, the cost of living is actually trying to kill the living, and it actually not funny at all, and we are ready to protest as long as it takes, in other to achieve the desired result, though they are using the security agencies to kill us, the protesting youth in most part of the country but that hasn't deter or stop us from fighting for a better life, than dieing in silence.

Everything will feel the same impact where when inflation, especially for large countries that have a dominating economic level, it is certain that it will affect other countries as well because after all this is a form of domino effect created so it is not too strange if until now almost all countries feel the same way.

But in this case, of course, when all feel the same way, it is clear that we ourselves must be strong to survive in life because after all this is what is important. Sometimes we complain enough just because we feel that we alone or our region and country alone are feeling the effects of inflation but in fact all feel the same and it is not the time to give up because of this considering that life goes on which means we must continue to be able to survive in difficult economic conditions like now.

Cost of living will really be that actually be just that the same if we are really that a resident of a certain country or simply we arent that visitors or tending to migrate specially into those people who do live on 1st world countries on earning up some dollars and converted back into their local currency on which it would really be ending up on having that significant value on which this simply means that you do find yourself that being sustainable despite of those high cost of living or anything around since you could really be able to buy and provide for yourself considering of your purchasing power or simply with your financial capacity. There would really be those people who do really do their best to have that multiple income source despite of having their own work on which its a must thing i should say.

This is why we do really work hard our assess of just to have that income and could be able to survive on day to day living. The main issue on here is that these non stop increasing of price of goods and services is really that going into the roof or simply having those inflation issues or problems had become that standard ever since. There's nothing we can do about it but we do have to deal up something such as this.
You wont really be able to survive if you wont really be doing those other alternatives or ways for you to earn more or adding your income.

I tell you the cost of living in my country is extremely on the higher sides and it's affecting every sectors leaving the masses to live with the capacity of not knowing what to do,it's not helping cause the poor masses find it difficult to afford two square meals also which is leading most of them to death and illness.

I sincerely don't know why this is happening this way,far back it was better of than this and there are opportunities in all areas but this era it's very difficult and yes paving an avenue for our young youths to do illegal things cause it seems the situation isn't getting any better.

Tho we hope and believe that the government finds a better solution to remedy this issues and let life be at balance for everyone, talking about transportation, feeding, everything just keeps going higher and worse and like you said it's generating more rooms for corruption cause no one wants to struggle hard,they just want to get it fast enough by every means.

for now stabilizing oil prices is very difficult due to various factors such as war and dwindling oil supplies, therefore it is difficult to keep prices relatively stable, and cause the quality of the economy to decline, and many leaders take people's money through corruption, they do not see the people who are important for themselves and their families to live comfortably, in this case makes us think about the difficulty of people who can be trusted in the current era, and that is a challenge that will be faced in the future.

The increase in fuel prices will automatically have a domino effect on all other commodities, especially basic necessities. This is clearly the responsibility of the Government, they should be able to ensure that the increase in fuel prices does not skyrocket. Indeed, there are types of fuel that receive subsidies from the Government, but the quality is very low and makes vehicle engines easily damaged. It is true, there are so many officials who are involved in corruption cases, all of them no longer have time to think about the welfare of the people, and only think about their personal interests and groups. In my opinion, it is quite difficult to survive in this era, even though we have a fixed income. All income is sometimes only enough to meet daily needs, so it will be very difficult for us to save or invest.

Initially I thought this crazy inflation is only happening in my country (Nigeria), ..out here people are barely surviving, people can't afford basic amenities anymore, even those that are rich are cutting down their expenses, they can't really spend money the way they used to.. Funny thing is people think they way out of this hardship is going to another country forgetting that the inflation is all around the world,
The cost of petrol is a thousand naira per litre which is times 3 of what the price used to be, the economy of the world is crumbling and people are exhausted

It is indeed difficult to deny because in my country the price of gasoline is still relatively expensive so there are still people who complain about it. As for the current leaders of the country, it is indeed very difficult for us to find those who are truly good because their goal is no longer to improve their own country, but only themselves and the people around them. Because when we start to explore more deeply in our respective countries, sometimes there are also rules that are unreasonable but all people must be able to follow and heed them.

I think the increase in the inflation rate was a worldwide thing in the year 2023, or even as time goes by. The inflation rate in my country is terrible. It went up slowly, but people never expected it to get to this level. Not a payer though, but at this rate, we may face a global economic crisis. Call it " The great depression 2".

As individuals though, we need to ensure that we aren't swallowed in all of this. In evolution, some scientists considered survival of the fittest to be the major factor that distinguishes us from other animals. Those who could survive became stronger and evolved, while those who couldn't, perished and were swallowed up by the struggles. We need to think outside the box, may not be for your country, maybe for yourself and of course, your family. Sometimes, the worst times are what make you stronger and more evolved.

At least your country has a price that you can relate to, in my own country the cost of petrol fluctuates like a bird in the sky.  The downside of the matter is that the price of petrol dictates about 80% of a country's cost of commodities. I wish the universe would magically give us better leaders who have us at heart, Unfortunately, most of our current leaders don't have empathy and are all concerned with enriching themselves.

Here at the Philippines varies depending on the location like how close it is to stores, malls and also main roads and lifestyle approach. Here's one, in Manila apartment prices ranges around 25,000PHP to 50,000PHP that like $435 USD to $866 USD per month. The utility bills like electricity and water range around 2,000 PHP upto 5,000 PHP so in USD it's $35 up to $87. Before, a meal only cost 0.52 USD but to now it's already at 2.60 USD. Also, transportation here varies depending on the price of oil so public transportation can be overspending. Low incomer to middle incomers definitely feel the effects of inflation as to jobs needs a lot or requirements in educational attainment even tho it's irrelevant on the specific jobs. Not so much to say here but religion also counts where its about getting hired in a job. So, considering a city or area to live on also align in you financial preferences.

The way inflation is happening in Bangladesh, it seems that in the near future the people of Bangladesh will fall into famine and even the lower middle class people will die without food. Because the prices of foodstuff, clothes and other things are increasing in this country which is a threat to the middle class and lower middle class people.

I am giving an example of the price of common edible oil in Bangladesh, currently the price of soybean oil in this country is Tk 200 per liter i.e. two dollars but earlier it was only Tk 100 per liter. Which has almost doubled compared to the previous price. Not only this product, there are many other products which are necessary for our life and their prices have almost doubled. Even though the price of goods has doubled, people's income has not been opened and even their income has not doubled. Prices of gas, oil, rice and pulses have increased. All in all, the cost of living in our country has almost doubled.

Inflation doesn't just happen regionally, but it seems you are right in saying that it happens globally, so it's no surprise that this has an impact on every country, the most impactful of which are developing and poor countries. So that the prices of everything increases, but the income earned actually decreases because the value of all goods increases and is no longer commensurate with the income earned.
Citizens will naturally protest about the scarcity of certain materials, or that they are available but are expensive and are actually unaffordable. The government must intervene in the market to prevent prices from increasing, and it is not easy to do all that if this happens.
In a situation like this, what is feared is that many factories will close because production costs will become expensive, so that more unemployment will cause further difficulties.

I think, the inflation is affecting the global economy, because the price of commodities has increased speedily in various countries of the world to make citizens to find it difficult to feed well, because their salary has been devalue based on the high price of commodities in the world.  I have seen many citizens protesting in some countries concerning the increase of commodities and other things in the country, I think some government are seriously working to reduce the high price of commodities and other things to enable the citizens to live well. Both the wealthy and the poor are experiencing this inflation, because the way investors use to make income in their investment, it has reduced because the inflation of the country is very high for citizens to cope well.

Similar to Australia, the cost of living crisis in Indonesia reflects unstable global economic conditions, which affect people's purchasing power. Rising prices of goods and services can cause financial stress on individuals and families, forcing them to spend more money to meet basic needs. This situation can also create uncertainty and economic difficulties for some people. as the saying goes "Money is not everything, but without money, everything is difficult" - this proverb describes the increase in the cost of living in Indonesia. Difficult economic conditions can have a big impact on people's daily lives, so it is important to have good financial management skills Good.
However, there is a view which states that despite the increase in prices of goods and services, Indonesian people are still able to survive and adapt to fluctuating economic conditions. Many of them are using savings strategies, looking for cheap alternatives, and increasing creativity in facing the challenges of increasing living costs.