How is the cost of living in your country? - page 7.

Zlantann

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Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Hi Guys,

I'm curious to know if there is a cost of living crisis in your country and if you are feeling the effects of rising goods and services.

I'm Australian, and the inflation rate in 2023 was over 4%.

I have noticed significant increases for everyday essentials like food, petrol and utilities.

The cost of petrol is around $2.10AUD per litre, which is insane.

Let's hope things improve in the near future because the current state of things is unsustainable.

We have been having double digits inflation (33.69% in April 2024) since last year which has contributed to a high price of goods. The price of goods and services has doubled over the years and fuel prices have increased by about 300%. The major problem is that the minimum wage has not been increased to help workers afford basic needs. The government has kept promising that pricing will drop but the opposite keeps happening. I also hope that things will change for the better very soon because there has been an increase in deaths due to hunger, suicide, and also high rate of crime.

Quote from: MarvinHagler on June 13, 2024, 09:55:45 AM

The minimum wage in Australia is around $23-$24 AUD which is very good but rent, groceries, travel expenses etc are ridiculously high and seem to be increasing all the time.

It seems traveling or holiday is a basic need in Australia. In my country we are struggling to survive, so we spend only on essential needs. Many people will be happy to migrate to your country because it has better living conditions than many countries in the world.

0t3p0t

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Here in my country we have a slight increase of 1% this month which results in overall inflation of 3.9% but it is still ideal destination for retired foreigners who wants to settle down because conversion rate of dollar in here is quite high. But if we are talking about prices and wages as a local it's quite lower for me compared to other countries and the purchasing power is not that good since our local currency is depreciating it's value against the dollar so yeah that is why foreigners love to visit my country. 😅✌️

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Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Hi Guys,

I'm curious to know if there is a cost of living crisis in your country and if you are feeling the effects of rising goods and services.

I'm Australian, and the inflation rate in 2023 was over 4%.

I have noticed significant increases for everyday essentials like food, petrol and utilities.

The cost of petrol is around $2.10AUD per litre, which is insane.

Let's hope things improve in the near future because the current state of things is unsustainable.

I guess people from different countries have a different understanding of what's a bad situation. My country had 26.6% inflation rate in 2022, then 5.1% in 2023. Adjusting at the beginning of 2023 was difficult for me because I just came home (I wasn't in my country for most of 2022), and I was shocked by the prices. Honestly, I think they rose even higher than by a quarter. It felt like they almost doubled. But that's nothing, compared to the fact that there's a war in my country, with even peaceful cities experiencing daily air raid alerts and pretty frequent missile attacks. And even that is nothing, compared to mobilization and the things soldiers are going through. So it's all perceived in comparison. I wish my issue was a 4% inflation rate.

Strongkored

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Quote from: retreat on June 13, 2024, 11:33:59 AM

I'm surprised by the price of petrol in your country which is around $2.10AUD, whereas in that country it's around 1 USD per liter (1.55AUD) even though my country is a third country, while your country is a developed country, even the average wage of people here is only 250 USD per month, and I bet that the average wage of people in that country is far more than my country - and you say that it's already hard enough because of the increase in prices and goods in your country, what about my country? lol. I feel like it's a joke that I don't feel anything that significant, or that people in my country are used to economic difficulties so they don't feel those difficulties that much? lmao.

Everyone experiences their own difficulties, we might think that people who live in rich countries will not experience problems with rising prices due to inflation but apparently, this is not the case.
There are countries where petrol prices are more expensive and even the minimum wage in these countries is lower than in countries with lower petrol prices, like Hong Kong where petrol prices reach more than $3 and the minimum hourly wage is around $5, based on this website:
Minimum Wages | Asia
Gasoline Prices | Asia

The price of petrol in my country is still below $1, but the decline in the value of my country's currency is quite worrying. This will slowly start to have an impact on food prices, and the people who suffer the most are people with salaries below standard because there are so many in my country. The world economic situation is uncertain and all countries are experiencing impacts, but countries with few job opportunities will make their people suffer even more. Becoming a migrant worker to a rich country might be a solution, but not everyone is successful in becoming a migrant worker.

sekalitas

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Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Hi Guys,

I'm curious to know if there is a cost of living crisis in your country and if you are feeling the effects of rising goods and services.

I'm Australian, and the inflation rate in 2023 was over 4%.

I have noticed significant increases for everyday essentials like food, petrol and utilities.

The cost of petrol is around $2.10AUD per litre, which is insane.

Let's hope things improve in the near future because the current state of things is unsustainable.

In my country the inflation rate in 2023 is about 3,71 % and for this year 2024 is estimate to be about 2,56 % based on statista website . as for petrol is around 0.5$ per litre .

As for cost of living , hmm for staple food like rice the price is quite high this year if we compared to 2023 , is about 0,07$ higher but the price for fish is more cheaper than last year . As for rental housing prices, they seem to be about the same based on information from my friends.

I think the problem in my country is about high unemployment rate , last time i heard news about 10 million gen Z unemployed , so it quite hard for living even though the cost of living hasn't change much .

Source:

Reatim

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Quote from: Ever-young on June 13, 2024, 03:40:23 PM

The way things are in my country has made most of our youths to start indulging themselves in some kind of illegal activities and our government is not actually doing anything which is why corruption is getting higher each day but we pray that God will always see us through and we will also try our best to survive even when it's not easy.

The reason why corruption is getting higher because those in position are also the ones involved in such crimes. They protect their fellow criminals for a sum of money. Sometimes they are even the ones directly who control such crimes. With how poor the living situation is, people have no choice but to resort to illegal activities and exploitations. Meanwhile The rich gets richer and the poor gets poorer.

Ben Barubal

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Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Hi Guys,

I'm curious to know if there is a cost of living crisis in your country and if you are feeling the effects of rising goods and services.

I'm Australian, and the inflation rate in 2023 was over 4%.

I have noticed significant increases for everyday essentials like food, petrol and utilities.

The cost of petrol is around $2.10AUD per litre, which is insane.

Let's hope things improve in the near future because the current state of things is unsustainable.

Here in our country, it is around 1.2 dollars per liter, but before, it was 1 dollar per liter. Apart from gasoline, even the prime commodities have increased their prices; there is nothing cheap to buy in this era. That's why the citizens of a country have no choice but to find a solution and a way to find other ways to earn money.

Because if we expect one source of income, for sure it will not be enough for the expenses we are facing in these situations, because even two sources of income are still not enough, and at least three sources of income are possible, however.

Darker45

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The latest inflation report here in my country indicates that the inflation rate is rising. From 3.80% in April, it has climbed to 3.90% in May. The average is 8.04%.^[1] Those aren't great figures especially because salaries and wages aren't catching up with the rising prices of goods and services. Ordinary people are suffering. My country is mostly made up of people with low-paying jobs.

A liter of petrol costs more than a dollar already. Middle-income earners are feeling the effects of the high price. But the poor are feeling it more. Much of the salary of these daily commuters go to their day-to-day fares. It doesn't help that the government has miserably failed in providing efficient mass transportation.

[1] https://tradingeconomics.com/philippines/inflation-cpi

bhadz

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Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Hi Guys,

I'm curious to know if there is a cost of living crisis in your country and if you are feeling the effects of rising goods and services.

I'm Australian, and the inflation rate in 2023 was over 4%.

I have noticed significant increases for everyday essentials like food, petrol and utilities.

The cost of petrol is around $2.10AUD per litre, which is insane.

Let's hope things improve in the near future because the current state of things is unsustainable.

It's crazy, I'll start with the real estate before the actual cost of living. The properties here have doubled but I hope that they'd drop dead soon because no one wants to spend their money on these uncertain times. And going with the cost of living. Before it's possible in my country to live with $2-$5 a day but it has changed, even a $10 won't be enough if you're in a family of 3. And it's gonna be more and more depending on how huge your meals are. Petrol is like 30% away from the surge after the pandemic. The global economy is declining and these wars are the cause of it and that's why those that aren't worried with inflation have become economists now in our country. Because before, we're like carefree and we don't really care at all with inflation but now, everyone is sharing their sentiment about how tough it is nowadays.

frnandoh

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I am from Brazil and I think with $1000/month is possible to have a reazonable life but most people earn about $400/month, living a life with many restrictions,some people earn about $260 so like this the life is really hard to live... the not live but survive.
My country has a lot of beautiful beaches, in my city the violence is ok, it's possible to rent an apartment for $400, you can buy a car for $5000 but a good used car is at least $10000, the gasoline is $1.1. You can waste $100 with food and more 100 with taxes. What rest of your money can be used in your mental hygiene. For people from first world is a paradise, because is possible to do a lot of things here with strong currencies. People that earn in Dollar or Euro and live here, most times live very well.
My wife's aunt that lives in Canada asked me if 12000CAD would be good to live here, huahuahuahua... She would have a life between high medium class and riches.

royalfestus

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Quote from: MainIbem on June 13, 2024, 01:10:49 PM

It doesn’t matter whether one is from a third class or developed country, if a citizen in a developed country is not earning enough to meet up basic needs then it’s right to say it might not be sustainable for such person in the near future, whereas their are people living in third class countries that leave very comfortably and have more than enough to sustain themselves and their families even in years to come, i think it depends on how wealthy an individual is, regardless of whether they come from a developed or third class country. Talking about the cost of living in my country, lol I'll jokingly say that the cost of living is almost killing the living here, the price of goods have doubled, our currency is getting weaker not to even talk about the price of petrol cause it's shameful that we've got petroleum and it's even subsidised by the government but then we still buy aound 0.6 to $0.8 per litre.

Third world countries are experiencing the brunt of this issue. The official inflation rates they report are often unrealistically low, while the actual rates are much higher. Despite the rising fuel prices, the government is not taking significant steps to alleviate citizens' suffering through substantial subsidies on essential goods. There is a need to boost citizens' purchasing power by increasing wages and providing grants to businesses.

goaldigger

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Quote from: Knight Hider on June 13, 2024, 01:18:32 PM

Raising cost of living forces people to work more. Working more hours to buy less makes the rich richer.

Exactly the same, even if you are not increasing your lifestyle na the way you live, but you have no choice but to keep on working because the commodities keeps on rising and the inflation makes your money worth less. The cost of living is a serious problem in our country, many are still poor and our economy is not that good, and if you will not work more you will not get any extra money.

o48o

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Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Hi Guys,

I'm curious to know if there is a cost of living crisis in your country and if you are feeling the effects of rising goods and services.

I'm Australian, and the inflation rate in 2023 was over 4%.

I have noticed significant increases for everyday essentials like food, petrol and utilities.

The cost of petrol is around $2.10AUD per litre, which is insane.

Let's hope things improve in the near future because the current state of things is unsustainable.

2023 it was 4.3% in here as well. Packets have been shrinking and everything costs a lot more. Attitudes have been changing and buying cheap and saving small amounts of money in here and there is the new normal. Second hand products and flea markets are really popular, and only reason to buy anything new is the warranty that comes with the purchase.

DIY is hot and people are turning to electric cars, public tranport and just bicycles for shorter routes, and you don't really need car anyway if you don't leave far away.

Ever-young

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Quote from: Ruttoshi on June 13, 2024, 11:16:22 AM

I live in a third world country and the price of petrol products and other commodities are 3x that of last year, and I don't think that price will come down anytime soon. Cost of living is fucking expensive now.

Inflation is very high down here which has affected every sector of the market. Getting the money is also another problem because minimum wage has not being increased and people who are earning salaries are really suffering because their monthly salary can no longer take care of their needs. I have a neighbor that quit is job, because of high transportation fee. After he did his calculations and saw that transportation will consume 90% of his salary.

I totally agree with you, as cost of living is like living in hell because of how hard life is for someone to survive.

Just like you said, price of things is very hard and difficult for one to afford, and to have a job is very difficult to get. The way things are in my country has made most of our youths to start indulging themselves in some kind of illegal activities and our government is not actually doing anything which is why corruption is getting higher each day but we pray that God will always see us through and we will also try our best to survive even when it's not easy.

electronicash

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Quote from: arallmuus on June 13, 2024, 03:05:43 PM

Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Let's hope things improve in the near future because the current state of things is unsustainable.

Its never going to be sustainable though. Inflation is just going to ruin everything and that is how economic works. Essentially everything might not be susitanable with the hiking living cost which is currently why there are so many people that moves to 3rd world country on Asia that has cheaper living cost compared to their own while still remote working on their country

Quote from: Knight Hider on June 13, 2024, 01:18:32 PM

Raising cost of living forces people to work more. Working more hours to buy less makes the rich richer.

Beggars cant be choosers. Its always the bottom of the pyramid that is going to suffer so in this case the working class. Its actually worse on 3rd world country though but due to cheaper living cost there, its still bearable

it's still hard for someone in the 3rd world unless they earn USD. but if they rely on the salaries from local companies, they'd not live a comfortable life as before Covid.
the covid started all these and then prices moved up while more companies started shutting down.

it's fine if a person is not feeding 3-5 mouths a month but if you are a family man, you can really feel the economy getting worse almost every day while bills increase almost every month.

arallmuus

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Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Let's hope things improve in the near future because the current state of things is unsustainable.

Its never going to be sustainable though. Inflation is just going to ruin everything and that is how economic works. Essentially everything might not be susitanable with the hiking living cost which is currently why there are so many people that moves to 3rd world country on Asia that has cheaper living cost compared to their own while still remote working on their country

Quote from: Knight Hider on June 13, 2024, 01:18:32 PM

Raising cost of living forces people to work more. Working more hours to buy less makes the rich richer.

Beggars cant be choosers. Its always the bottom of the pyramid that is going to suffer so in this case the working class. Its actually worse on 3rd world country though but due to cheaper living cost there, its still bearable

Knight Hider

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Raising cost of living forces people to work more. Working more hours to buy less makes the rich richer.

MainIbem

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Quote from: retreat on June 13, 2024, 11:33:59 AM

I'm surprised by the price of petrol in your country which is around $2.10AUD, whereas in that country it's around 1 USD per liter (1.55AUD) even though my country is a third country, while your country is a developed country, even the average wage of people here is only 250 USD per month, and I bet that the average wage of people in that country is far more than my country - and you say that it's already hard enough because of the increase in prices and goods in your country, what about my country? lol. I feel like it's a joke that I don't feel anything that significant, or that people in my country are used to economic difficulties so they don't feel those difficulties that much? lmao.

It doesn’t matter whether one is from a third class or developed country, if a citizen in a developed country is not earning enough to meet up basic needs then it’s right to say it might not be sustainable for such person in the near future, whereas their are people living in third class countries that leave very comfortably and have more than enough to sustain themselves and their families even in years to come, i think it depends on how wealthy an individual is, regardless of whether they come from a developed or third class country. Talking about the cost of living in my country, lol I'll jokingly say that the cost of living is almost killing the living here, the price of goods have doubled, our currency is getting weaker not to even talk about the price of petrol cause it's shameful that we've got petroleum and it's even subsidised by the government but then we still buy aound 0.6 to $0.8 per litre.

m2017

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Quote from: MarvinHagler on June 13, 2024, 09:25:25 AM

Hi Guys,

I'm curious to know if there is a cost of living crisis in your country and if you are feeling the effects of rising goods and services.

I'm Australian, and the inflation rate in 2023 was over 4%.

I have noticed significant increases for everyday essentials like food, petrol and utilities.

The cost of petrol is around $2.10AUD per litre, which is insane.

Let's hope things improve in the near future because the current state of things is unsustainable.

Inflation or cost of living crisis as you call it exists in every country with the only difference being that some have higher inflation and others have lower. I won’t say in numbers (in percentage) what the level of inflation is in my country, but it is very noticeable. Almost every trip I go to the store is accompanied by unpleasant observations (an increase in the cost of goods). We can't influence inflation in any way (it is built into the modern economic model) and therefore, there is no point in whining about it. We can only neutralize the impact of this inflation, which affects money, by storing value\wealth in various financial instruments (traditional stock market, bonds, cryptocurrencies).

The situation will never improve, because inflation will never be eradicated unless the entire world economy is completely changed. Even if this ever happens, it is unlikely to happen anytime soon. Therefore, we can only learn to adapt (buy Bitcoin!

) in the conditions of the cost of living crisis.

retreat

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I'm surprised by the price of petrol in your country which is around $2.10AUD, whereas in that country it's around 1 USD per liter (1.55AUD) even though my country is a third country, while your country is a developed country, even the average wage of people here is only 250 USD per month, and I bet that the average wage of people in that country is far more than my country - and you say that it's already hard enough because of the increase in prices and goods in your country, what about my country? lol. I feel like it's a joke that I don't feel anything that significant, or that people in my country are used to economic difficulties so they don't feel those difficulties that much? lmao.

Topic: How is the cost of living in your country? - page 7. (Read 1522 times)