The effect of rising inflation on everyday life

Greetings everyone, I want to share the impact of inflation on me as a Nigerian youth. Inflation being the persistent rise in the general price level of goods and services, inflation doesn't just occur like a natural phenomenon but one caused my the consumers, the labour and so many other factors including the government.

As a student of the university of uyo have experienced alot struggling to cope daily without giving up that easy. Long before now, life was cool for the students in terms of food to eat for the day and what to keep in store for the future, we all agreed that 3 steems can prepare breakfast even dinner for students then but now you need about 10 steems or there about to prepare a meal. It was really hard for us but I think human life is designed to cope with situations.

The persistent rise in the general price level of goods and services cost me alot including my savings, due to this inflation problem it's so hard to keep aside savings for myself. Going to the market to purchase items looks so strange that you can get an item for 3 steems this morning and the next day it will 5 steems. It's really unbearable for us, they're all blaming it on the increase of fuel price. The funniest part of it all is that even farm produce gotten from a nearby farm is also a fuel price increased products. This is because of the demand pull on the product, when the demand for a particular product is high the seller will eventually increase the price thereby leading to inflation.

Eating a nice meal now is so expensive, you can't minimise cost you have to bear the cost burden and purchase it. The problem is that humans can't do without food which actually a basic needs, so many wants are been prioritised due to the cost of those items. My mom do tell me not to be selecting food lie before if I don't want to die of hunger and that's the truth because garri being the back up plan for students like me is now very expensive. So we eat what we see as far as it holds us for long.

Talking about the cost of transportation to school everyday. I have been spending alot of money to be in school everyday and that's really on my neck, to say have tried alot. Last year ending the president gave an order to cut off the subsidy which eventually caused an increased in price level of fuel in Nigeria, petrol went up from #350 to 990. We were all complaining and even went on to protest but to no use, no changes.
Before the inflation period my transport fare wasn't the problem for me because #500(2steems) can take me to and fro to school but now #1500(6steems) everyday to school isn't funny. My savings is gone due to high expenses incurred and it's also hard for me to save money during this period.

Even travelling by water, the price to travel across to any destination is high too people no longer travel that much unless it's very important. There are numerous times I stayed back from school due to this issue of high transportation cost and bills in school.

The inflation has really impacted negatively in my life as a student disrupting my savings, my plans and also my short term budgets. The government should really look into this and bring back the country to it normal state again. There are so many causes of inflation which are the cost, demand, Government and others.

The cost inflation comes in as a result of high cost of resources and labour whereby the cost of producing a product is totally high. The producer will have no other choice than to increase the price of the finished product to earn from it.
The demand push inflation comes in as a result of high demand for a particular product this will actually increase the price due to high demand for the product.

Inflation is really the issue now we are facing in the country, the government should bring up policies just like the monetary policy and fiscal policy to look into this problem. So many people have committed suicide, some into fraud due to high cost of living. You can earn 40k and eventually spend that only on debts because of inflation.
Being so sick and tired of the whole scenario hereby say the government should try make work numerous for the youths and also bring up policies to minimise this high cost of living.
Inflation is one of the deadliest event to occur in a state.

Thanks for going through my post ❤️

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