Encountering the worst for inflation

Inflation is such a word which was unknown to most of people before the pandemic situation. If anyone heard the word then, they might not understand the true meaning of the word. But I am pretty much sure that most of people understand what is meant by the inflation word.

Inflation is the thing which created and still creating a huge impact on our life. Developed countries may not notice it too much because of it's good economic condition but most of the developing countries or underdeveloped countries are facing the worst situation because of it. So what does inflation mean? In simple words losing the value of a country/local currency against the dollar is inflation. As a result, the price of all necessary goods increases. And rising prices of goods naturally create an impact on the life of general people.

Let me share about my country's situation and how badly it's striking in our life. Almost all the prices of all necessary goods in our daily life are currently 2X compared to the last 2.5 years. The 2X price is not a matter of joke. Poor people to middle-class people are facing the worst situation in my country for inflation the salary has not increased yet. You might be wondering why I didn't mention about the rich people. I don't think they are facing any kind of impact of inflation because they have their own ways of generating the extra money to cope up with inflation.

Middle-class people used to save a moderate amount of money for their future but because of inflation, they are facing tough times for savings. In fact to go up with the situation many of them started to spend their savings. They are still clueless about how to cope up with the situation if the same thing keeps continuing. Some of them are coping up with the situation by setting a tight budget for buying necessary things. In fact, many people are trying to avoid buying expensive food even if it's their favorite food. Some people trying to find an extra earning source but everyone is not successful in it.

Let's talk about poor people. To be honest it's still a surprise to me how poor people are facing the worst situation because of inflation and how they are surviving. I think it's one kind of miracle in my eyes. Just imagine how tough situation the middle-class family is facing to cope up with the situation, then how the poor people are handling it. So, I prefer to say their survival is a kind of miracle.

The economic condition of my country is getting worse and snatching, kidnapping, stealing and so many illegal activities started which decreased a lot in the last 13-15 years which also became an obstacle on the way after the development of the country. Most significantly corruption has increased a lot and it's enough to destroy the basement of a country.

Let's talk about how much inflation created an impact on my personal life as well as on my personal finances. I belong to a middle-class family and inflation naturally striked my family's finances badly and cope up with the situation we need to spend our finances wisely and we need to ensure we are not wasting our money. We need to limit many things, especially our food preferences. I need to go for cost-effective and healthy food. Instead of setting a tight budget and following various kinds of tactics almost 2X spending occurs each month and there is no way to reduce it. It's almost impossible for us to save a little for the future.

I just hope that the inflation rate decreases again and makes the life of general people better. Unfortunately, I do not see any sign of it. Only a miracle can fix the issue within a short time otherwise it may take a huge amount of time.