Sunday, July 23, 2023

Inflation is Killing us

The inflation caused by the Covid-19 lockdown and the War in Ukraine has literally set the world on a collision course with Inflation with major economies trying to fight it with higher interest rates. Food prices at the grocery stores are and still going through the roof with no sign of prices coming down as everyone is grappling with soaring prices of everything and it seems things are going to remain this way for a long time. I have been witnessing the price creep on everything from fruit, Candies, soft drinks, chips, eggs bread and all the other staple prices. It is distressing as the wages have been unable to keep with ever rising prices. Energy prices which had peak earlier to 5 dollars a gallon and above have come down a bit to 3.50 dollars to a gallon, which is much relieve and it is tending to stick around those prices for some future.

Initially when I use to go to grocery store every week, I use to see five cents or 10 cents increase here and there on every item that I consumed. But for now the prices seems to have stabilized somewhat. But they don’t seem to come down as hoped.

I have switched to store brands instead of national brands to save money but sometimes even store brands are expensive as compared to national brands. So, depending on whatever is cheaper, I buy that stuff as I am not a stickler of which brand, I like for some items at least. People are doing two or three jobs but they are still struggling to put food on their tables and roof on their head and provide for the families. The Central banks are trying hard to tame the inflation but it seems inflation is here to stay for the foreseeable future. I feel for the people who are struggling in these hard times as the biggest struggle to keep on their heads is becoming an uphill battle for some as the soaring rents and housing prices are creating more homelessness than usual. Let us hope that sometime in the future, this monster is tamed as it will not be soon enough for many people.

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