Inflation Is Destroying Economy And Businesses

[Josan]

Inflation is the order of the day in my country due to bad economy, the worst thing here is that some people don't even think of making the money the little way they can but always thinking of making huge money by inflating prices of product and having the mindset of either purchasing it or leaving it.

 

[Smiles20]

The principle of inflation is pretty much is even though it is not something that you can keep out easily. You Should ensure that you increase the amount of gross domestic production and also reduce your over reliance on imports.

 

[Good-Person]

Inflation is something I don't understand in our nation; the rate of items keeps going up and up every day, regardless of what it is; the bigger task is for the government to perform to rescue companies and halt this.

From what country do you belong to? I think inflation is a problem that is faced by many countries but some countries are suffering more severely from this problem. In my country, inflation is increasing due to the fact that the price of petrol have increased much.

 

[Ghost1]

Inflation is one of the biggest problem we are facing in this part of the world, prices of good are rising day by day. Sad thing is that the government are not doing anything about it
[automerge]1637324526[/automerge]

Inflation is the order of the day in my country due to bad economy, the worst thing here is that some people don't even think of making the money the little way they can but always thinking of making huge money by inflating prices of product and having the mindset of either purchasing it or leaving it.

Most times I don't blame the producers. They tend to inflate the prices of their goods because the raw materials they need has also been inflated. They have to balance it off

 

[ganibade]

Inflation destroyed economy and business.Inflation make economy to turn upside down and cause starvation.This make business to fall down.

 

[Skysaint]

I feel like you're referring to my country directly. Due to high inflation the worth and value of naira has decreased drastically, and it is becoming very tough even to acquire little items to sustain life let alone running a business

 

[YERUS]

I live in a country where inflation is very high. The big problem is the fact that people do not have a good source of income and the rate of poverty is insanely high. There are many people in here who hardly earn $3-4 per day and it is just not possible to survive in such kind of economical conditions. I am sure that there are many other countries that are facing such kind of problems. So, how can we prevent inflation and save businesses? If we cannot prevent inflation, then how can we manage it in an efficient way?

Inflation always have a way of turning the economy up side down.
We cannot outrightly prevent inflation, but we can manage in such situations by managing our finances, cutting down quantity of produce or goods.

 

[Kane]

I live in a country where the government has no money to build roads, infrastructure, etc. So can can we expect the government to create jobs? Most of the Tier 3 countries rely on foreign aid.

Foreign aid is not a solution but a problem. These aids come with conditions, more than 50 percent of aid amount will go to pay the salary for the foreigners who come to manage the aid they have provided.

 

[Sotherefore]

Government are supposed to be the one to help in this situation and not the ordinary People, but a situation in which the government does not really care then what will an ordinary people be able to do, everyday our money is losing value.

 

[Lens]

The greatest enemy of the economy is inflation. It eats dip into the progress of the country causing a serious retrogression in the economy.

 

[Syldan]

Well, inflation is a universal phenomenon that is been suffered or faced by almost all countries of the world. either in the increase in the price of goods and services or the fall it currency value in the international market.

 

[Seno inyang]

Inflation is one thing I've grown with in this country of mine, as prices of commodities would keep increasing and never decreases. Imagine the fact that 1 dollar is equal to 500 naira. We are used to this economy and that's why we struggle every minute to make money, some are forced to steal or rob their fellow brothers due to how difficult live is.

 

[tyrim88]

One of the ways to mitigate inflation at least to managable level,is for the government to be very proactive and act decisively,the government need to create an enabling environment for industries and production of local goods to thrive,with this the dependence on foreign goods would be reduced.

 

[Ghost1]

The principle of inflation is pretty much is even though it is not something that you can keep out easily. You Should ensure that you increase the amount of gross domestic production and also reduce your over reliance on imports.

Exactly. A priority should be set. Only important things must be imported into the country to help build the value of the countries currency. This would go a long way

 

[Kubiat-Abasi]

Honestly, it's so appalling that inflation is now the order of the day as prices of goods and services keep skyrocketing every second yet nothing is done by the people at the helm of affairs to restrategize and place checks and balances.

 

[Adecyptii]

Same here,that is what we are struggling on,the rate of inflation is becoming high in my country,one has to struggle before getting tangible amount of money,I think the best way to battle with that is only when the government take necessary action on that.

 

[Sotherefore]

One of the ways to mitigate inflation at least to managable level,is for the government to be very proactive and act decisively,the government need to create an enabling environment for industries and production of local goods to thrive,with this the dependence on foreign goods would be reduced.

You have also seen it, and I have also seen it.. Does it really mean that our government are not seeing it ? I believe they are seeing and they know what is happening but they have purposely refused to take action

 

[tyrim88]

You have also seen it, and I have also seen it.. Does it really mean that our government are not seeing it ? I believe they are seeing and they know what is happening but they have purposely refused to take action

That is just it,you know when it comes to governance,the person at the healm os affairs has a great influence to the industalisation or creating an enabling environment for business to thrive to reduce inflation.It will be worse if they have interest in companies abroad.

 

[Sotherefore]

That is just it,you know when it comes to governance,the person at the healm os affairs has a great influence to the industalisation or creating an enabling environment for business to thrive to reduce inflation.It will be worse if they have interest in companies abroad.

Hmmm, I don't know why Africa is like this I don't just know, I believe maybe in the future things will be better because as I'm seeing now the government of our country does not really care for the citizen of the country, they are just interested in their pocket.

 

[Ghost1]

I feel like you're referring to my country directly. Due to high inflation the worth and value of naira has decreased drastically, and it is becoming very tough even to acquire little items to sustain life let alone running a business

It is very obvious that prices of goods are increasing day by day and the silence from the government just shows us that they don't even care, so sad