To start with I'll define Inflation is an increase in the general level of prices or in the cost of living and also a decline in the value of money.
Sincerely if am to express myself fully on the situation of things in my country, I might use a whole day to do that and still not finish. Atimes I just wish am not given birth to in this country or should have traveled out of the country before now...lols,but that's just the truth. Sorry to say, things are getting out of hand gradually and we need to really do something before it fall apart completely.
Things are getting hard day by day, the price of goods are on the increase, what you buy today at a particular price will have sky rocket in the space of just a month and sometimes not up to a month, It's very sad.
Just few days back, I resume back to work so I need to buy some foodstuffs, I was shocked with what I bought with 14$, I used a polythene bag to carry 14$ worth of foodstuff. It's very though at the moment.
Many people are talking about increment in salary, increment in minimum wage, yes it's good but I think the best thing for us do is to focus more on price control. We should take time to look into the factors that are causing increment in the price of goods, and see how far we can manage them, with that even with little income as salary we'll be able to buy a lot of things with just a little amount of money.
But I doubt if the price of goods will reduce, because it's very rare for there to be an increase in price and the price goes down later, it do happen but very rare.
Just of recent we experienced a very bad time in Nigeria just this year that we've not even reached half of the year, we've seen alot already (some people will call it "shege" i.e problem, crisis, violence) the first three month; January, February and March was a very tough month.
Two things befell us at the same time, increase in fuel price and new note issue.
Repot gathered by the National bureau of statistics states that "Petrol price rises by 54.57% in February" Imagine a whopping 54.57% the huge increase was felt by everyone especially we the average citizens.
Virtually everyone needs to queue in the filling station for days before they can finally buy fuel. With the scarcity of fuel, price of so many things like goods, transport etc increased again.
Furthermore, the change of old notes to new ones also caused a lot of problem as the new notes printed did not go round, so we started making transfers if at all you at to buy and sell. Although some old market women were not accepting transfer so that makes matters worse a little. They will tell you they don't accept transfers because the are scared of being scammed with fake transfers and moreover bank network was very bad at that time. That alone is another frustration on its own. You'll send money but the receiver might not receive the money on time, so that discourage a lot of people from making ad receiving transfers.
Many businesses suffered alot, while some like POS agent were enjoying lols, what a world, life is not balance indeed.
The hive blockchain has really helped me to cope with the rising cost of living. Earning in Dollars and crypto currency helped me a lot. I'm not feeling it that much unlike when I was only earning in Naira.
One of the advice I can give people that needs help is to tell them to take the advantage of crypto currency, like getting on board into hive blockchain or do other things that will make them earn in more profitable currency other than Naira.
