"Bad news travels fast.''
Annual inflation has reached 80 per cent in my country. This is the rate announced by the authorities.
The effects of the global and local crisis affect people with limited income the most.
Covid - War - The negative repercussions of economic sanctions and environmental factors continue and it is not known when the recovery will begin.
Inflation rates, which are felt with the decline in purchasing power, have a higher impact than announced.
The increase in minimum wages by 80% in total before a year is open to debate on how successful it is in maintaining purchasing power.
With the effects of the heat in the summer season, the degree of economic temperature in homes is rising even more.
When prices are considered in dollars, we have one of the cheapest living costs in the world!
But it should be known that it is one of the cheapest places as manpower / resource!
This creates an expensive effect in prices due to the decrease in purchasing power, although prices are cheap compared to the world generalisation.
When the words "cheap but expensive" are in the same sentence, it may seem like a contradiction, but it is not a contradiction!
Anyone with strong local currency can have cheaper holidays, cheaper food, cheaper cost of living here.
According to the inflation increase in the last 1 month, the price increase in health and alcoholic beverages broke a record.
Looking at the last 1 year, the record is seen in transport and non-alcoholic beverages.
In other words, beverages have taken their share of the price increase in the cost of living in every way. It does not matter whether alcoholic or non-alcoholic.
I think the reason for the record-breaking cost of transport is the huge increase in fuel prices and the war that triggered it.
The "entertainment" sector is also affected by the rising cost of living. However, since the priority of low-income people is to live, they can save on entertainment.
The glimmer of hope that prices will decline does not show itself too much. How high can prices go? That is also not exactly known.
Of course, all these negativities will not break our enthusiasm for life. It will only stagnate for a while.
If you don't worry too much about prices and life difficulties and live life momentarily, hopes can blossom again. Or when you are not a person with a low income, there is already no problem.
And it is good to live despite everything!
That is one heck of a report. Thank you for sharing. It's just amazing the direction the world is going. Seems like your country is a bit out infront for the hyper-inflationary race to the bottom. Buy gold, silver, bitcoin ;)
With your posts that offer price evaluations from different places, you have enabled us to get direct information from prices at many points. This is important because it gives us the chance to compare. Thank you for this.
We are trying to diversify investments to protect the money we have.
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