I started having my candle light ritual in America in 1999. I always light a candle in every Friday evening. It is my way to look at the past and think about any relevant matters in my life. Today I like to write about inflation. It is a problem in many nations currently. It was reported that in Germany inflation is 10 %. In some less developed nations there is hyperinflation and the value of their currencies is plummeting. Prices are also rising due to the war in Ukraine and the western sanctions that are targeting the economy of Russia. Just recently I discussed prices with a cashier at my local grocery store and she said that prices have increased nearly by 12 %, so 12 % inflation, I just must believe it. They are saying that prices are higher near the war or other conflict zones. What do you think about current inflation in your region of the world?
It’s higher every month. As far as food goes.
Gas stabilized. Energy is higher and higher.
It doesen’t look good. Hoping for the best, but things may get worse before they get better.
I bought one ice cream today. The price of this ice cream has risen a lot. In the beginning of the summer it was 40 cents and then it increased by 50 % to 60 cents and in this morning it was 1.09 euros. So the price of this ice cream has risen by over 150 % since the beginning of the summer in this year. So inflation in some goods is very high.
In the news today. Producer prices rose by 43.3 % in August in the EURO zone. The consumer prices are expected to rise in the future. Then they talked about the profits recession in the future. Where are we going to head in the future? Sounds quite bad.
CNN’s Meanwhile in America reported higher prices, so higher inflation.
I have my suspicions about why this is happening but, suffice it to say, the rich get richer and the poor get poorer.
You are probably right that higher inflation hurts more poorer people. It also hurts families who have many children. I do not see things getting better any time soon.
I met one person in this evening. We occasionally talk about things. Today we discussed higher food prices and higher producer prices (43% in August). Then he mentioned that there has been mass protests and demonstrations in many countries in Europe. I did not know this because it has not been in the news. He mentioned that there are YouTube videos of these events and so I decided to find some and I did indeed find one. I hope this provides more understanding of the current crisis in Europe.
Wages and benefits are automatically indexed when prices increase. It’s only for those that are disproportionately using energy the current crisis is hurting in Belgium.
I live alone and I do not use much electricity, but there are people who have 5-6 people families living in larger houses heated by electricity and I can understand how their energy bills are quite high. People have also started burning their energy bills as this following video shows.
Sure. But eventually the utility company will threaten to disconnect.
I still owe 2 mos. Also on a payment plan.
This talk about inflation is scary. I hope we get through it without permanent harm to the world economy. One thing that might help these countries with plummeting values of their currency would be for all the major developed countries to pitch in together and buy the undeveloped countries currency for dollars, pounds, or marks. Just a thought.
@crimby It is very difficult in these hyperinflation countries such as Venezuela where the value of their currency falls every single day and prices just keep rising. Nothing seems to stop it. @Kxev I live alone but still my 1-month electricity bill was as much as my 3-month electricity bill earlier in this year.
Just a little more about the current world condition. I saw one news yesterday in which they reported that the current monetary policy by Federal Reserve with its tighter policies to counter inflation may be more harmful to the world economy than the year 2008 financial crisis. It was just one news. We know more in 2023.
There was a time in the history of Zimbabwe where they were wiping their asses with five-million-dollar bills. They switched to the U.S. dollar as their main currency, and their economy improved dramatically. If we start letting countries go under because of inflation it will exert a downward pull on the dollar. I don’t know if it will work to exchange the currencies of the powerful nations, but it is worth a thought.
'Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world.”
a quote by Henry Kissinger
I went to check some prices. I have two larger grocery stores near me. Prices in general are higher in a smaller store of these two. Price increases also depend on the category of different products. In some products the increase has been 12 % but for example honey prices are much higher than earlier, at the smaller store of these two honey price has risen over 25 %. There are some products I would not consider buying at all because their prices are much too high. Do you have any examples of your area?
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