How Inflation Affects Me

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Untitled.pngPexels, edit by me.

Inflation is a common concept to almost all Nigerians. You can randomly hear a little kid lament about the ever-increasing prices and it gives you an idea of how bad it has to be for little kids to be so pained.

Every time I pick up an item from the counter, I have to squint carefully at the price because it's usually unbelievable. Now I'm not stunned about these prices because in the last few years Nigeria's inflation rate has mostly been on an upward movement.

What's crazy is that most of these prices never come down even when there are times when there's a little shift in inflation rates. I never expect to see reduced prices for items but still, I'm always pained by how expensive everything is.

You can imagine how hard it is for businesses to keep up when their customers are not willing to pay more for the same quality or even lesser quality. The effect of inflation on businesses is directly proportional to its effect on us the consumers.

Small businesses especially take the hit because consumers would rather buy from the big businesses that can afford to keep their prices lower in these situations.

Inflation can reduce one's will to save and even invest. As much as I distaste having to save in fiat, I try to use a savings app that at least gives me a little interest.

This got so difficult seeing my money sitting there with so little purchasing power as the days went by. The moment I needed the cash and pulled it out, I found it unreasonable to put any more money in there.

I bet there are thousands of people like me who would rather spend their Naira than have it saved up. The problem more spending causes in these times is that there might even be more inflation when demand increases and there's a decline in supply.

Yesterday my friend was telling me about buying more units of the MTN stocks I got last year and I was honestly not interested. I don't see the point in buying more units when I can only afford to buy little and that won't bring much profit in years to come.

It's also not a wise choice to invest in ventures that won't give you returns that is at least slightly higher than the inflation rate. I doubt you can find any of such around.

Investing a bulk of Naira into something right now is not part of my agenda and I would rather stock my house with food. Speaking of food, I can't even enjoy the things I used to before anymore without getting a bit anxious about the prices.

We're paying more for less and we have had to re-evaluate our taste for both the essential and non-essentials. I'm thrifty by nature but this is just a difficult situation beyond me and I couldn't be more thrifty.

These are a few ways inflation kicks me in the butt and all I can do is not panic and focus on surviving daily. My goal is to eventually get one of these 'inflation-proof jobs' that are always in demand and also give me peace of mind.

How do you deal with inflation?

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16 comments
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Whoever is directly controlling the V2K told me to kill myself.
They told me if I killed myself now it would save the lives of countless others.
Saying the longer I wait to kill myself the more people will suffer.


They are reckless and should have shown the proper media what they had before taking me hostage for 5 years. I know there are many in prison that dont deserve to be there because of this. Your stay in prison will not be fun @battleaxe and friends. People are going to want you dead when they find out what you did. I hope you die a slow painful death. You sick mother fuckers.

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Its a terrorist act on American soil while some say its not real or Im a mental case. Many know its real. This is an ignored detrimental to humanity domestic and foreign threat. Ask informed soldiers in the American military what their oath is and tell them about the day you asked me why. Nobody has I guess. Maybe someone told ill informed soldiers they cant protect America from military leaders in control with ill intent. How do we protect locked up soldiers from telling the truth?
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Of a truth, the "badness" of our government isn't just the reason for inflation alone. Middlemen, inability to maintain regulations. The greed of retailers and all that. We're the architect of our cost-pull inflation. I don't have a way to deal with it, I just do what I do. My only consolation is that one day I'll leave this hell hole

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Middlemen, inability to maintain regulations. The greed of retailers and all that. We're the architect of our cost-pull inflation.

That's right! Government alone can't take the blame on this one. There's a lot of greed among suppliers and retailers. We at the very bottom of the sales funnel bear the brunt of it all.

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Damn I am sorry to hear that! Inflation is running rampant right now. My typical lunch is at least 50% more expensive. Wild times

Crypto has the potential to fix this. We just need to keep pushing the innovation boundaries

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Wild times indeed! Still, I'm thankful to be able to earn in crypto, it makes spending in my local currency less tearful.

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My Canadian government has under reported their Inflation report as 8.6% and it feels more like 16 to 25% depending on the goods I buy. I kept my receipts over the last 5 years and there is no denying that the hurt is on all over the globe. I just recently converted most of my emergency reserve fiat Canuck bucks into gold coins to preserve my buying power.
My Emergency Reserve Fund (ERF) is for extraordinary unforeseen expenses.

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Inflation has done more harm to individuals things increase on daily basis and it's affecting us seriously.
Only God can help us on this country through good leaders and I pray he answers us.

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The situation with the high inflation rates in your country reminds me of the situation in my own country Venezuela, although in the last months inflation has gone down a little bit, it's always uncertain, there is a lot of economic instability and saving in fiat currency is practically losing money. Most of the income goes to buy food and basic necessities.

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