Have you felt the impact of inflation so far?

[ShowOff]

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.

[1714666140]

1714666140

[YinShuiSiYuan]

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.

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.

[tabas]

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.

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.

[South Park]

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.

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.

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.

[Raflesia]

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.

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.

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.

[ChiBitCTy]

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!

[Naficopa]

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.

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.

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.

No one is exempted when it comes to inflation. Everyone is highly affected regardless of their status it's just that rich people won't complain too much compared to the poor because they could easily find alternative resources to sustain their living while poor people are having a hard time dealing with the situation because even sustaining their food to survive each day is even hard. Everyone is actually dealing hardly with the situation.

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.

[Jatiluhung]

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.

[Cookdata]

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.

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.

[Vaculin]

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.

The worst thing about this inflation is that it touches already our emergency funds just to cope up with our expenses when it’s supposedly intended to spend only when there are unforeseen emergencies that are happening suddenly. So the thought about it made me more realized that what if this inflation will hit its peak and become uncontrolled, would people still survive? Well, maybe this would be the time that even rich people should also learn to balance their wants and needs, and these poor people will double their jobs just for survival alone.

[bitbollo]

I am traveling often in my country in several cities (from north to south). What I have seen is that big cities ("the richest") are seriously impacted by inflated prices at a strong level. Likewise in certain situation even "price doubled".
The same applies in touristic cities (likewise city of art or near the sea).
Minor cities, or "poor" cities have not this situation, sometimes price are the same for many services.

This inflation rates It's just speculation? I don't know but from my perspective I think this could be a serious issues for several people ...

[bakasabo]

In Europe, the impact of inflation feels different. Inflation rate is from 6% in France to 25% in Estonia. An average salary in Estonia is about 1k EUR and 2k EUR in France. Of course the impact of inflation will be different. I think people in Norway does not even feel any kind of price growth with their 5k EUR average salary and 7% inflation rate.

How do you handle impact of inflation? What expenses do you cut to lower the impact of inflation ? Eat less or choose lower quality of food or clothes ? Travel less?

[Techkoy407]

The increase in fuel oil in the country where I live has increased, it has quite an effect on people from the lower middle class, why?

although fuel oil has increased, but their salaries have not increased,
while they commute to work every day using a vehicle, their finances will definitely be a bit drained, due to the increase in fuel oil,

not to mention the price of food also goes up, and that adds to expenses again.

that's how it is,
There has not been an increase in workers' salaries, but their daily needs are getting more and more expenses.

[philipma1957]

In Europe, the impact of inflation feels different. Inflation rate is from 6% in France to 25% in Estonia. An average salary in Estonia is about 1k EUR and 2k EUR in France. Of course the impact of inflation will be different. I think people in Norway does not even feel any kind of price growth with their 5k EUR average salary and 7% inflation rate.

How do you handle impact of inflation? What expenses do you cut to lower the impact of inflation ? Eat less or choose lower quality of food or clothes ? Travel less?

  Really good question.
 I just gave out about 50 merits on this thread.

How to adjust.
Find more work.
Side hustle .

Are good but we need to make a list of what are we spending on.
1) Food
2) Gasoline
3) Electrical power

Can we cut back on the big three above.

Well If I go to 4 Supermarkets to shop I will reduce my food bill.
But my Gasoline bill goes up
and It takes hours to shop at four supermarkets

How to adjust.
I am in the USA.
 Walmart has a large supermarket to drive to it and back = 8 dollars. Time spent shopping and on the line to check  out at least 1 hour.  If I forget something I need to spend 8 dollars in gas to go get it.

Walmart will deliver groceries . So 5 orders in a month say 100 each is 500

 zero gas spent vs 5 x 8 = 40
maybe an hour on the pc spent.
only go to two other supermarket that are close to me on the same trip 5 times a month say 20 in gas to do this.

So I drop my gas bill down to 20 not 60
Between the 3 places to shop I spend close to 1000 in food a month but it would be over 1450 if I did not comparison shop.

This is 12000 a year vs 18000 a year

Don't drive as much to my family in New York From my home in New Jersey this is now 100 dollar round trip vs 35 in 2019

So do 5 trips a year for 500 not 1 a month for 1200

[ShowOff]

You cannot waste your money on luxuries.

I really want to cite this one because basically avoiding all the luxuries right now is the best thing to prevent more of the impact of inflation. Even if it doesn't help much, it certainly can prevent them from spending a lot of money on things that aren't much use.

How do you handle impact of inflation? What expenses do you cut to lower the impact of inflation ? Eat less or choose lower quality of food or clothes ? Travel less?

The need for food should be a priority, I don't think it should be frugal even if the value continues to increase. Obviously there are several things that must be done to reduce the impact, such as not buying too many things that are not urgent, reducing luxuries, lifestyle and others. This means that one has to be frugal but they don't have to starve just to reduce the impact of inflation.

Today, my electricity bill is up 60% from last month. I don't think I've used it over capacity, I don't know how I should adjust this.

[tabas]

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.

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.

Well, the rich are making more money during the higher inflation or crisis because they've got a lot of stack of cash to buy those assets that are falling because of it.
And on the next recovery, that's where they're being rewarded when things have come back to normal and recovered very well. So, let's just say those incredibly rich are the ones that's making a lot and almost not affected and the rich that are down to their level are also affected but not a lot and far from the poor to average earning people.

[gabbie2010]

In my country inflation is biting harder on daily basis consequently the cost of food and service had skyrocketed in the market, the common staple foods such as bread is getting out of reach to low income earners, bakers are complaining of high cost of flour which is majorly imported according to a report the Russian- Ukraine crisis was responsible for the high cost of wheat as result of non production consequently triggered the high cost of wheat, another imported staple food rice is also expensive thus people are looking for alternative cheaper staple food eg yam, potatoes etc,
Personally I am also feeling the impact of inflation the lion share of my monthly income is spent on feeding I hadly have any savings, I hope all the crisis causing the inflation stop as soon as possible.

[philipma1957]

In my country inflation is biting harder on daily basis consequently the cost of food and service had skyrocketed in the market, the common staple foods such as bread is getting out of reach to low income earners, bakers are complaining of high cost of flour which is majorly imported according to a report the Russian- Ukraine crisis was responsible for the high cost of wheat as result of non production consequently triggered the high cost of wheat, another imported staple food rice is also expensive thus people are looking for alternative cheaper staple food eg yam, potatoes etc,
Personally I am also feeling the impact of inflation the lion share of my monthly income is spent on feeding I hadly have any savings, I hope all the crisis causing the inflation stop as soon as possible.

As a diabetic all grains of all kinds are not on my diet.

So Eggs 1.59 a dozen in 2021 now 5.59 or 4.19 at walmart

Frozen broccoli 1 dollar on sale in 2021 now 1.79  or 0.88 at walmart.

all meat is 1.5x to 2.5x the price other than chicken drumsticks and thighs

Wait for a sale and buy 40 pounds for 40 dollars or no sale and pay 60  dollars

Nuts a big food for a diabetic are 2x the price.

Very difficult to find good prices and very important to do so. I now buy 25 pound bags of walnuts price is low enough to make up for the inconvenient size.

[Raflesia]

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.

No one is exempted when it comes to inflation. Everyone is highly affected regardless of their status it's just that rich people won't complain too much compared to the poor because they could easily find alternative resources to sustain their living while poor people are having a hard time dealing with the situation because even sustaining their food to survive each day is even hard. Everyone is actually dealing hardly with the situation.

Well this is true, the reason they don't get much attention is that they still have some backup sources so indeed they can still hang around and say nothing. As for people with a weak economic background, it is clear that something like this is felt and feels like being faced because going forward can't even go back, so there is nothing to do but scream because they feel the impact of inflation.

[Yamifoud]

After the Covid-19 crisis, now this inflation strikes again making everyone suffer the huge price increase. I felt how hard it was when you are a breadwinner of your family and it was hard to budget from a small salary. At this time, we need to budget wisely, even some of our necessities are needed to be cut off just to fit the budgeted amount.

I'd see this will not be over too fast, we still probably feel this inflation until the end of this year, and sadly make many poor people suffer the most.
I was very concerned about those jobless people, I'm not sure of they can survive if this situation will take so long or might commit crimes.