Rising Price in goods and services

[Chilwell]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

Increase in prices of commodities in the Country Nigeria is the least the Nigerian could talk about now, because they are tired of crying out their pains without any action being taken about the challenges, difficulties and problems that they are facing due to decline of value of the currency and inflation that is taking over the country. Some Nigerians lost their hopes about the deflation of the commodities and they are adapting to the current economic situation, because they are left with no option. A lot of citizens are dying due to lack of social amenities, economic insecurities including inflation and so on, but the government neglected all those issues focusing on how they are going to stabilize their own lives, living their duties and responsibilities towards their country or citizens unfulfilled.
But I disagree with the parts where you said that some Nigerians has traveled out of the country. I will only agree with you, if you have said that the riches run out of the country, because they are the ones that have the privilege to do so. The poors are looking for money to feed talk less of gathering money to fly out from the country.

Since the COVID-19 there had been global economy crisis and the Russian war and the Israel wars has also been a limestone triggering the exceeding of the long term inflation.

The inflation in Nigeria was mainly caused by bad government approaches and how the government failed to know what Nigeria needs to have good economy. Naira that was 385 to a dollar last year is now 1590 to a dollar. What can we call that? I see no one calling it hyperinflation but I think it is hyperinflation in the country.

That is what comes to my mind also, the problems that Nigerians are facing is due to bad governments. The governments has failed to overlook the situation of the country. Sincerely speaking, the life of the Nigerians is at stake, because every governments that step into power usually took loan from other countries in the name of working sincerely to bring growth and development to the country but at the end of the day, they did nothing. The debt that Nigeria has on the head now hmm, is something we shouldn't take about. But honestly if the governments make good use of the loans they have been taking, then Nigeria should have been developed by now and the debt should have been cleared by now. But rather the loan is increasing regime by regime, this clearly state that the governments are using the money for their own selfish purpose. Nigeria has natural resources and raw materials but they don't know how to utilize them, and they are selling them to other countries, but Nigeria needs them the most. Is Aged people that are representing the country, I think its time to test the capabilities of the youth and see where they are going to take the country to.

[stomachgrowls]

Well yes I do agree with you on that. It is just more expensive for us to buy things we need like food. And for services we need like to fix our car does now cost more money then it did in a few years ago.
But it has been like that for some time now. I do not know when it will become less expensive for our basic things we need to become cheaper. I do think it is a global problem not just only for Africans.

Actually there's no issue if the salary or wages will really that go along with those continous increase of prices of goods and services but we do know that it will really be taking up ages before this one happens. This is why people do really struggle on living because inflation catch them up and for the solution? Dont depend into one income source and it will be best that you should be finding up other income source via investment or having other work or have some business on which this will really be able to make yourself that able to survive or sustain whenever economic situation becomes worst overtime. This kind of problem cant be felt out by rich or wealthy people in compared into those who are living on average or poverty levels.

There's nothing we can do about these increases because this isnt something a problem that our government could be able to handle it out actually. There are indeed some market prices on which they will be needing to follow up and as long its on the right digits then there's no way that we can be able to complain but rather we would really be needing to deal with it. This is a global problem that cant be resolved out.

[Callido]

Well yes I do agree with you on that. It is just more expensive for us to buy things we need like food. And for services we need like to fix our car does now cost more money then it did in a few years ago.
But it has been like that for some time now. I do not know when it will become less expensive for our basic things we need to become cheaper. I do think it is a global problem not just only for Africans.

You can't find a country that never had a bad economy, only that most of the African countries are yet under development and so things like this are just going to keep happening until comes a time when proper development takes place and things begin to get better. A developed country also has its flaws, things are more expensive because the standard of living is high and so everyone tries to fit in and all you do there you must pay for.

It's a global problem even outside African countries there are still very poor and retard people living in the streets and begging for daily means of survival, just the way it is, the more developed we get the harder it gets to make basic needs available.

[Queentoshi]

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

This issue of rising prices and economic challenges is indeed a global phenomenon. Many countries around the world, not just in Africa, are facing inflation and increased costs of living, including developed countries. A handful of factors have contributed to economic instability in various places.

In Nigeria, the situation is exacerbated by certain local issues, like poor governance, corruption, and inadequate infrastructure. These factors out listed have led to higher prices for goods and services, making it difficult for people to meet up. Today we see many Nigerians seeking better opportunities abroad, in my opinion it is just a reflection of the challenges most of them have faced at home, as they look forward to improved living conditions and financial stability in other countries.
The governments of these countries facing challenges as this, need to implement better policies and reforms to address these difficult challenges and improve the quality of life for their citizens.

[xLays]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

I think this is not just happening in Africa but also in other countries though not globally, as they say. Here in the Philippines the prices of goods have become extremely expensive, and the cost of services has also risen by about 50% to 100%. Most of the time, this happens when the government is corrupt because, back when we had a competent leader, goods were much more affordable.

Our vice president here in the Philippines is facing an impeachment complaint, while many Filipinos believe that our president is either high or a drug addict. lol

[WillyAp]

That happens if the population buys mainly imported goods. In the wake of cheap, cheaper and most cheap locally produced goods break away.
As a buyer you need to act wise and buy locally, specially vegetables, meat, poultry, cheese among others. 

[fullhdpixel]

Having additional income and continuing to develop skills will indeed give us a little more income in dealing with inflationary situations, but we must also have good abilities in terms of financial management so as not to use the additional income we have earned on things that we don't need because if we can't manage our income well, of course, no matter how much income we have, it will be difficult to meet our needs, especially in this inflationary situation, every price of necessities increases while we use our income on things that we don't need.

What you said is very right, complaining does not have any impact on ourselves and our families and as someone who is responsible for their family, of course they must continue to try as hard as possible to continue to have an income in various ways to continue to be able to meet all the needs required by their family and must continue to work hard.

The problem is that, if we are constantly working to improve ourselves, just to be able to survive, than the economy isn't working as intended.

Any person should be able to live a decent life, why are we deviating from that and accepting it as a norm.

I am not going to bash any jobs and get attack for it, but think of the simplest job you can find, or at least whatever is the most obvious minimum wage job, if you can do that then you are going to realize that we are not really doing that much trouble on the long run if those people make enough to pay their rent, pay their car loan or something (car is not a must but a good to have if you live in a large area, if you live in somewhere like Paris or New York or London, then it is not a need) and eat decent food, and not noodles everyday, and be able to provide education to their kids, and pay for hospital bills when they are sick, these are all things that we should give to minimum wage people.

If we are talking about more riches, then yeah, not everyone should have a brand new lambo every year, but those bare minimum things should be what minimum wage can pay.

[SmartCharpa]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

I have no idea how price increases affect other countries, but I am confident that each country is coping with one or two different issues. The high rate of goods happening in Nigeria is because of a lack of right governance; we have yet to find leaders who are capable of fighting for the happiness of the people of Nigeria. However, we believe the country was not much better before, but the cost of products and services started rising right after as your president chose to remove the fuel subsidy, and it has been nearly two years.

Furthermore, how confident are you that many individuals who move out of the country do so because of high prices? You have no point how much it costs to live in any country to which they relocate. I have yet to see a Nigerian who traveled out and was happy that the pricing in another country was lower than in Nigeria. Prices would only improve if we have a good government because other countries hardly complain about their governments like Nigerians.

[Muba20]

Well yes I do agree with you on that. It is just more expensive for us to buy things we need like food. And for services we need like to fix our car does now cost more money then it did in a few years ago.
But it has been like that for some time now. I do not know when it will become less expensive for our basic things we need to become cheaper. I do think it is a global problem not just only for Africans.

It's a global problem even outside African countries there are still very poor and retard people living in the streets and begging for daily means of survival, just the way it is, the more developed we get the harder it gets to make basic needs available.

Not only in Africa, there are many countries in the world that are not going through a good time financially. However, even if other countries can adapt, the situation in African countries is worse. The negative economic situation has a greater impact on these countries. Especially if the necessary electricity is not supplied, the economic situation of the country will be even worse. Also, the situation of the countries is getting worse due to the corruption of the government and those at the high level. Due to the rise in the price of goods, it is very difficult to survive in those countries. That is why some people try to leave their countries and go elsewhere.

[Su-asa]

Well yes I do agree with you on that. It is just more expensive for us to buy things we need like food. And for services we need like to fix our car does now cost more money then it did in a few years ago.
But it has been like that for some time now. I do not know when it will become less expensive for our basic things we need to become cheaper. I do think it is a global problem not just only for Africans.

Things are kind of expensive in my country, especially the things that are being imported from outside the country. However the rate of dollar to naira is too high and that's also what causes the cost of living that's trying to kill the living. Car parts are too expensive and lot of people have parked their cars at home because they can't afford to buy even a petrol and fix their cars. Let's not blame the government for the cost of goods and commodities because they are also trying their best, besides it's not easy to rule a country mostly some African countries.

[Odusko]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

We'll it's a clearer sign that inflation has really eaten deep into the economy of the country thereby making things especially prices of commodities extremely high and at such the poor masses are unable to afford some things. I'm not sure this is a global phenomenon but necessarily Nigeria needs good governance that will thus reflect on the economic sector but there's no sign of change because this increasingly high rates of goods and services will definitely affect the progress of the country as a whole and something should be done.

The most painful part is that, in my country, there is blame for high inflation and hiked prices of basic commodities on the value of naira to dollars, but at the moment our local currency has gained a lot of value over the United States dollars but yet there is the rising cost of basic goods and the rate of inflation is increasing every day we are not seeing the impact of the naira gains on the economy, this make is to believe that the problem of our economy is internal and not external and the government is just playing blame games with the whole thing, but that is by the way, let talk about insecurity and its effects on food production this is one of the major reasons for the high cost of food stuff in our economy today.

[DeathAngel]

Inflation has raced out of control for 5 years now. It started with the pandemic & has not subsided since. Gas prices are crazy due to supply issues, caused by the war between Russia vs Ukraine. Normal people are struggling to live, it just can not continue. I don’t think it will, something is going to break. We’ve all seen it before & it’ll happen again. I fear a deep recession is coming.

[Fiatless]

Inflation has raced out of control for 5 years now. It started with the pandemic & has not subsided since. Gas prices are crazy due to supply issues, caused by the war between Russia vs Ukraine. Normal people are struggling to live, it just can not continue. I don’t think it will, something is going to break. We’ve all seen it before & it’ll happen again. I fear a deep recession is coming.

The economic hardship is also hitting my country hard. The government couldn't sustain the funding of subsidies. This has caused the price of gas, fuel, electricity and other goods to increase.  There is no economic solution in sight but we have to keep struggling to survive. It is now common to take more than one job, a practice that was rare before now. The war between Russia and Ukraine affected the price of some basic stuff like wheat and I can't wait for this war to come to an end.

[ChiBitCTy]

There's no question this is a global economic issue at the moment.  The issues is the checks and balances are corrupt, politicians are corrupt and at least here in the United States when you allow PACs, officials campaign to be funded by big business, well there in lies political puppets.  One of the worst issues here in the US is the price rice in food  Since 2020 major food brands have come together to collude on price fixing "supply lines are slow and or cut off" yet this was typically on the case for a short period of time, yet companies continued to use it as an excuse and reason to justify their price gouging.

[Mame89]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

In Indonesia, something similar is also happening, the prices of all goods continue to rise while the income that people earn is not sufficient for their daily needs, with the inflation rate continuing to rise so high that it is not sufficient for their daily needs, the current economic setback is very unfortunate for people with middle to lower incomes because state officials must think about the same thing and look for solutions to overcome the increase in prices of goods and services in our country so that our people are destitute for their daily needs.

I also came from the same country. In recent years our country has decreased economic growth and this also has an impact on the increase in prices of goods and services. This is very clear, especially with inflation. Inflation The phenomenon of the price increase of goods and services gradually or gradually continuously. Actually inflation is not an increase in the price of goods or services, but inflation is a decline in currency value, this is what makes the country experience economic setbacks.

On the other hand, the cause of inflation is not only from the consumer side (demand & supply) but also comes from the producer side (distribution costs, demand for goods from outside, regulations regarding trade problems) that affect the selling price of goods. In addition, our country Indonesia has more needs, because every year the population increases, its needs are high. While goods including food (food) are relatively reduced because the land has been built units/buildings. This is part of the cause of the price increase of goods.

[Victorybit1]

The inflation is becoming something else in Nigeria and it keeps getting worse everyday. If this continues to go on what would happen to the average man within the next five years, will survival become more critical than it already is. It's now hard to even afford the basic things that were once very cheap to purchase, and the crazy part is that the prices were not even doubled, it's actually x4 of the amount it used to be. The government isn't really doing anything to change this, everyone just have to adapt by working hard to becoming financially stable.

[CroverNo01]

The inflation is becoming something else in Nigeria and it keeps getting worse everyday. If this continues to go on what would happen to the average man within the next five years, will survival become more critical than it already is. It's now hard to even afford the basic things that were once very cheap to purchase, and the crazy part is that the prices were not even doubled, it's actually x4 of the amount it used to be. The government isn't really doing anything to change this, everyone just have to adapt by working hard to becoming financially stable.

Where are we going in this country? Alot of ugly incidents have happen and have made the country to be in shackles. It's beyond repair if you ask me. The rapid rise in goods and services in the country, what's the fate of the common man? There's heavy presence of hardship in the country and this will continue as long as the government have taken priorities to enrich themselves and no longer concentrate on the main budgets that matters, always anticipating in projects that are irrelevant. As the year pass by, the country will become poorer and instability in the country's economy based on poor management and unwise decision making by the government.

[aylabadia05]

The rate at which things are becoming expressive is alarming, the rising of prices of goods and services like in Nigeria is affecting the livelihood of the people. Many Nigerians have travel out because of high rates in prices and low financial value.

Is this a global phenomenal or is only Africans going through this economic deflection and poor government system?

Not only Nigeria, it could be that many countries will experience the same fate if the increase in the price of goods and services occurs while job vacancies for the community are narrow or difficult. In developed countries, there are not a small number of immigrants or I call them nomads who try their luck abroad because of economic problems. They will compare the value of their currency with the value of foreign currencies that are exchanged with their currency. If there is a legal loophole there to work, they will go abroad.

[RockBell]

Well yes I do agree with you on that. It is just more expensive for us to buy things we need like food. And for services we need like to fix our car does now cost more money then it did in a few years ago.
But it has been like that for some time now. I do not know when it will become less expensive for our basic things we need to become cheaper. I do think it is a global problem not just only for Africans.

This things that are expensive are think that we can not do without and the ealier the better we understand that things won't come down and the best way yo handle situations like this is to just double our hustle because that is the only way that you can solve a problem like this.

When you increase your earnings then you will be able to afford it no matter how expensive they are because when there is enough money there is nothing like something is too expensive it is only when you are struggling and this are problems that we have to solve with an initiative.

And this is a global situation and I noticed that some government are already intervening by even subsidizing and I hope everything will go well for what ever move they are making to make things better.

[DaNNy001]

The increase in price of goods has been a major issue not just in Nigeria but also in some other countries as well... The main reason why the price of goods are increasing everyday is due to the high cost of Petrol. When a trader pays a high amount for transportation, they double or triple the price of their goods so they can recover what they lost... it's very concerning and there's nothing anyone can do about it..Even after the price of petrol reduced a bit we were expecting the price of goods to return to their normal amount but it's still the same. When the price of something goes up in Nigeria it doesn't reduce again.