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Author Topic: What are the effects of inflation on ordinary people  (Read 726 times)
Agbe
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Today at 12:47:19 PM
 #101

The ordinary citizens who are not working in the government parastatal are the most likely receivers of the Country or the World Inflation at all time. They stuff most in the time of inflation and that has caused them famine for them. Because things became unbearable for them to buy and at that time a what they needed is the food to survive but it is not available for them. Government economy policies are against them because the manufacturer, wholesalers and retailers have increased their prices to meet up the government policies. And the effects of malnutrition and diseases becomes common in the society.

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Today at 05:40:42 PM
 #102

The people that suffer most as a result of inflation are thw workers that depend on salary. This is because salaries are hardly reviewed to cover the inflation that affects the prices of things and diminishes the buying power of the salary.  Those that own businesses or running contract are not affected much because when inflation hits, they simply raise the prices of their goods and services to cover the effect of the inflation.  They practically get richer during inflation whole workers get poorer just as it is happening now in my country.

I think you are right on what you said that the salary earners gets affected more when their is inflation in a country,  like you explained salaries are not reviewed immediately or may not even be reviewed during the inflation period and that affect those that depend on their salaries, because they still get the same salary, while inflation has caused an increase in prices of goods and services,  which reduces their purchasing power.
On the other hand, people into business or contract tends to benefit more, because they can increase the prices of their services to meet up with the inflation and even get richer during the period of inflation.

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Today at 06:05:37 PM
 #103

People living in a country with high inflation work just to keep from going hungry and never find the opportunity to live for themselves. Enjoying a nice meal, wearing nice clothes, seeing new places, and truly feeling like they’re living their lives is really very difficult for those living in countries with high inflation. The deeper inflation becomes, the more income inequality increases, and a certain segment of society is actually happy about this situation. Because they are the ones who make money off of money and want the system of exploitation to continue.

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Today at 08:02:22 PM
 #104

Common people have no money in their pocket because they are moving their circle and their spending are more and they have no money on which they depends.
A common man is usually also a victim of things like the debt trap, where no matter how hard he works, the interest is always higher than what he earns and the capital loan remains the same or gets bigger over time.

The food prices are more and people are dependent on the income only and they have no side income and they have no savings in their pocket.
And that's why it's very important to have multiple earners in any household, and if possible, have multiple sources of income. One guy earning for a family of 4 will never suffice. Once you have multiple earners, you realize things suddenly get much easier, not just because of the extra income but once more people start earning, they start valuing money more and understand the value of saving. One who is not earning usually doesn't realize the importance of money.

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