Rising Price in goods and services

[Rabata]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

Africa is not the only victim of this situation. There are many countries in the world that are surviving in this situation. Both developed and developing countries of the world are going through a difficult time due to inflation. It's impact is the most in poor countries. Wars in some places have had a big impact on the world, especially the Ukraine-Russia war, which has had a big impact on oil and food supplies, which has had a negative impact on low-income countries.

There is no way to say that the impact of inflation is only due to one reason. Although many countries have temporarily faced some problems, some have been able to solve that problem. But there are some countries whose governments have artificially created a crisis through corruption, due to which the prices of goods and services in those countries are not under control. It certainly takes time to restore normalcy in such a situation.

[alastantiger]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

It's a global phenomenal because it's affecting every part of the world and not only Nigeria or Africa. There are some countries that are being affected more than Nigeria is being affected because they're having the same problems with their politicians as Nigerians are having. Some countries in Asia, Europe are struggling with inflation at the highest form and things seem not to be calming down soon, countries in Africa too as they're some of the most poorest countries although they have the richest resources but don't know how to utilize the natural resources. Poor government system and the economical situations is the causes of this high inflation affecting the price of goods and services. The world is getting more expensive and so so things continuing to be expensive because money is losing its value.

[Gaza13]

Inflation is everywhere and not just in African countries. What makes the impact of inflation different from countries to countries is the kind of economic policies they make and the level of corruption too. The reason some countries are suffering more is as a result of poor economic policies obviously influenced by corruption in these countries. Do not expect inflation to go down any time soon and if you live in a country where the impact of inflation is so severe, then you should be smart to invest more in assets that hedge against inflation because fiat at these point will be totally unreliable to preserve value. Boost your income if you have to because higher cost of living will require more income to support it. I believe in helping yourself make your life better because no one, not even the government would do it for you.

This inflation polemic will never end, it will happen again in the years to come. What you said is true, the solution is to find additional income, not only that, we need to develop new skills, this is very important for us, because we have the knowledge or skills that we have, this will certainly save the economy from getting out of the hardships of today's life. By combining all the strategies we have, you will be better prepared to face the challenges of inflation and economic uncertainty in the future. We must be ready to face all of this by complaining that what is happening now will make you useless in your family's life.

[Soft Crem]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

It's a global phenomenal because it's affecting every part of the world and not only Nigeria or Africa. There are some countries that are being affected more than Nigeria is being affected because they're having the same problems with their politicians as Nigerians are having. Some countries in Asia, Europe are struggling with inflation at the highest form and things seem not to be calming down soon, countries in Africa too as they're some of the most poorest countries although they have the richest resources but don't know how to utilize the natural resources. Poor government system and the economical situations is the causes of this high inflation affecting the price of goods and services. The world is getting more expensive and so so things continuing to be expensive because money is losing its value.

My personal opinion is that not only Nigeria or Africans, but for some reason countries all over the world are facing food and clothing problems.  Because of COVID 19 and Ukraine vs. Russia war as well as some other wars are going on in the current world due to which the prices of various products are increasing.  On the other hand, prices are increasing due to some political reasons.

[Wakate]

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

This is a global phenomenal and the cause is inflation, but the effect is mostly experienced on the developing countries because their economy is not yet stable as well as the value of their currency used in comparison to USD is not appreciable, then how is this going to be solved, then comes in the need for independencies, in terms of production, man power in the economy, political and other aspects, once the cordination is there, the leadership is balanced, then the people will be left with no choice than to follow the dictates of the government, other developed countries also are facing same problem, but isn't obvious because their economy is stable and controlled to an extent.

I kind of understand why you would say that. It always seems like the developing nations feels the most impact from the inflations due to the fact that, there isn’t a lot of jobs out there to directly tackle the inflation that have continued to ravage the economy. That’s the big difference between developed countries and the under developed or developing countries. The means to earn and working policies.

If the government could ensure proper working policy formulation and inspection, coupled with providing jobs and favorable conditions for businesses to strive, the impact wouldn’t be felt at the magnitude it’s been felt today.

There are a lot of things that can be out together to ensure that inflation does not keep increasing over a long period of time. It is bad government and policies in place that do cause inflation to increase drastically. Some government officials are only on the seat to embezzle public funds which is one of the reasons why we keep seeing mismanagement of funds. It is certain that when the right government hit the seat, things can become less severe as we speak. Just like we have seen Donald Trump trying his best to make sure that his government has a lot of packages to help the price of things to go down reducing the rate of inflation in the country.

[Pi-network314159]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

Economic hardship is everywhere not only in Nigeria. Inflation is affecting almost every country in the world due to how the government is handling their financial system. Poor financial management and corrupt leaders can cripple an economy, making things difficult for a common man. But however even as the government of some country are behaving strange but people are still making money expecialy those that knows their way..

[barisbilgili]

Inflation is everywhere and not just in African countries. What makes the impact of inflation different from countries to countries is the kind of economic policies they make and the level of corruption too. The reason some countries are suffering more is as a result of poor economic policies obviously influenced by corruption in these countries. Do not expect inflation to go down any time soon and if you live in a country where the impact of inflation is so severe, then you should be smart to invest more in assets that hedge against inflation because fiat at these point will be totally unreliable to preserve value. Boost your income if you have to because higher cost of living will require more income to support it. I believe in helping yourself make your life better because no one, not even the government would do it for you.

This inflation polemic will never end, it will happen again in the years to come. What you said is true, the solution is to find additional income, not only that, we need to develop new skills, this is very important for us, because we have the knowledge or skills that we have, this will certainly save the economy from getting out of the hardships of today's life. By combining all the strategies we have, you will be better prepared to face the challenges of inflation and economic uncertainty in the future. We must be ready to face all of this by complaining that what is happening now will make you useless in your family's life.

Having additional income and continuing to develop skills will indeed give us a little more income in dealing with inflationary situations, but we must also have good abilities in terms of financial management so as not to use the additional income we have earned on things that we don't need because if we can't manage our income well, of course, no matter how much income we have, it will be difficult to meet our needs, especially in this inflationary situation, every price of necessities increases while we use our income on things that we don't need.

What you said is very right, complaining does not have any impact on ourselves and our families and as someone who is responsible for their family, of course they must continue to try as hard as possible to continue to have an income in various ways to continue to be able to meet all the needs required by their family and must continue to work hard.

[justdimin]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

At this point I am pretty used to it, there aren't that many things which prevents it, and we should be considering how to get away from all of this without a doubt. I get that it is going to be tough, but we can make this work one way or another, we just need to put it into perspective. If there are a lot of things that costs a lot more, then we should be earning a lot more as well, if we are not earning more than we used to while everything goes up in price, then there is a problem.

If you are having trouble with your salary, then ask your boss to give you more, if they reject you, then try to apply for jobs that will pay you more as well, if both doesn't work, then maybe you are not worth paying more as an employee neither.

[benalexis12]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

You know, even if the prices of goods are high, it is because inflation rates are not decreasing. That's why all countries around the world have these problems.

With each passing year, the price of products continues to rise, particularly prime commodities, and
others are crude oil, petroleum, and other things.

[harapan]

The major cause is inflation and is experienced by all countries ime the world. There are countries with policies that have helped reduce the impact, a strategy not usually exercised by developing countries as a result of various factors like political instability or their monetary policy.

The thing is its not that prices of goods are rising. Fiat currency are consistently falling.

You're right and it's definitely causing so much havoc for the country and it's economic sector and this situation seems to occur in most parts of the countries around the world and mostly the fall of a currency is one factor that  usually results to the rise of inflation and as well increase the price of goods and services. But if there's a medium to control this then there would be a balance between things but I think this factors are inevitable and you can't eliminate them but they can be controlled.

[khiholangkang]

The major cause is inflation and is experienced by all countries ime the world. There are countries with policies that have helped reduce the impact, a strategy not usually exercised by developing countries as a result of various factors like political instability or their monetary policy.

The thing is its not that prices of goods are rising. Fiat currency are consistently falling.

You're right and it's definitely causing so much havoc for the country and it's economic sector and this situation seems to occur in most parts of the countries around the world and mostly the fall of a currency is one factor that  usually results to the rise of inflation and as well increase the price of goods and services. But if there's a medium to control this then there would be a balance between things but I think this factors are inevitable and you can't eliminate them but they can be controlled.

If we talk about the market, it will be influenced by the supply and demand in the community if the demand is large then what happens is the price increase and if the demand is receded, the price decline will occur and that is the market performance but every year it will continue to be more expensive because the money supply is indeed in The community is increasing every year which makes the circulation of money continues to grow and the community has more money and then has an impact on the amount of excessive request so that the producer of services or goods increases their selling prices to get more money.

And yes we cannot fully misuse the government even though they are the main players in this case in the sphere of a country.

[crwth]

I believe that it's a global phenomenon, not just specific to Nigerians. It will boil down to the poor governance that some countries may have and not really controlling the supply and demand with this. It's all about that, IMO, and it could be improved if the government made the right moves.

When money inflows come in to prevent inflation, there should be an equal reaction. It's a complicated case, but it's definitely not just in Africa.

Imagine where it was as a pandemic all over the world. It was a wild printing time of money.

[Rruchi man]

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

Inflation is a general issue most countries are faced with. It is not an issue peculiar to only Nigeria. If there is even a comparison between the price of goods in Nigeria and the price in some other countries, the cost of goods and commodities in Nigeria is still relatively cheaper than the price elsewhere.

Our government is not the best, but blaming the government at this point is not reasonable. You already know that they are not good, so work hard to try make ends meet.

[eightdots]

I believe that it's a global phenomenon, not just specific to Nigerians. It will boil down to the poor governance that some countries may have and not really controlling the supply and demand with this. It's all about that, IMO, and it could be improved if the government made the right moves.

When money inflows come in to prevent inflation, there should be an equal reaction. It's a complicated case, but it's definitely not just in Africa.

Imagine where it was as a pandemic all over the world. It was a wild printing time of money.

These goods and services prices can be corrected if the right moves are made. Increasing prices are not only due to governments' economic policies, another reason for these increases is that people who sell goods and services increase their prices much more than normal. Selling the same product or service at very different prices negatively affects the market and puts the market in a difficult position to correct.

Inflation is a big problem for people in many countries, not just 1 or 2 countries. Inflation is a problem that takes time to correct and needs to be fixed permanently, not temporarily, with good policies.

[GeorgeJohn]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

What causes high cost of living in the country is an inflation, and things became high due to the economy, and also lack of country of economy management causes inflation to the country, so not every country that inflation affects, there's some countries who is good for management of economy and they don't suffer high cost of commodities or price, everything that's in that country is been regulated according to the law and present governance of the country, relating to what you narrated here, Nigerians may suffer for economic downfall due to lack of governance and lack of law enforcement to things that's necessary to be regulated, so when the ecosystem is polluted people will find their way of surviving until the system is restored.

[Bazzu]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

indeed in reality inflation worsens the situation, because commodity prices continue to rise causing inflation to continue to rise, in Nigeria this continues to happen and is very worrying, not only Nigeria but world inflation continues to occur because there are indeed many factors that influence it, because the impact of inflation will worsen the situation even though the solution is always there but it takes time to implement it.

[qurbanshah02]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

indeed in reality inflation worsens the situation, because commodity prices continue to rise causing inflation to continue to rise, in Nigeria this continues to happen and is very worrying, not only Nigeria but world inflation continues to occur because there are indeed many factors that influence it, because the impact of inflation will worsen the situation even though the solution is always there but it takes time to implement it.

Obviously, when a person has calculated his daily life, if inflation occurs it disturbs the home system. We should solve the inflation, for that we should do something else so that the system of our house will not be damaged and if inflation continues no one will face difficulties. This happens in many countries because not every country has farming for everything so one country buys and gives things to other countries and the price of something in every country increases. We should not worry about it but solve it, because solving solves the problem not work, so we should do more than one thing.

[batang_bitcoin]

indeed in reality inflation worsens the situation, because commodity prices continue to rise causing inflation to continue to rise, in Nigeria this continues to happen and is very worrying, not only Nigeria but world inflation continues to occur because there are indeed many factors that influence it, because the impact of inflation will worsen the situation even though the solution is always there but it takes time to implement it.

Yup, this is world inflation and it's just hitting Nigeria and other countries too big because of incompetent leaders. The worsening situation of living of people and then the global price index that keeps on increasing, there is no solution to this but to keep on finding sources of income just to make a living and cope with the situation. Because if nothing is done and there is no other solution to be made, we people need to find our own way out of these bad living situations.

[DiMarxist]

It could be due to bad governance,

It is not "COULD BE" but it is the government that is causing it. In sometimes the devaluation of the country currency causes inflation in the country when the imported goods prices have been risen because of high exchange rate goods and services will also be affected. Three things control African economy. Farming. Which has been the bedrock of the poor but some advance countries with local capitalists in the world sponsoring bandits and other criminals elements to destroy the local farmers farms and killed the farmers so they can import foods to the countries by selling it higher prices.
Africans leaders are not for the good of the citizens but for the benefits of the local capitalists and the international organizations (capitalists). Africans election is a fraud.

[mich]

Well yes I do agree with you on that. It is just more expensive for us to buy things we need like food. And for services we need like to fix our car does now cost more money then it did in a few years ago.
But it has been like that for some time now. I do not know when it will become less expensive for our basic things we need to become cheaper. I do think it is a global problem not just only for Africans.