I went shopping today and to my greatest surprise I say that the price tags for every item has been removed and been replaced by some set of numbers. I walked up to the cashier and asked why. She responded that the instability in prices and the rapid increase in prices has made diverse of customers create scenes. Imagine buying something for $3 and a week later, that same Item is now $7. Who will not contest or argue that. Or taking an item to the cashier and after scanning on the system there is an increase in price. Who won’t create a scene.
One thing that is actually shocking is how rapid price increment happens. Ever since I knew my right from my left. I have never seen a deflation in this economy. You might ask what is deflation.
Inflation is when the value of money can buy less commodity/ commodities. While deflation is when less money can buy more commodities/ commodities. It is easier for a camel to pass through a needle hole than for the prices of things to return to normal or for there to be a deflation in this part of the world.
MY observation in recent time is that inflation rate has been 120% increment in the last five(5) months I don’t care what the National Bureau of Statistics says. I noticed that things I do buy five months ago has doubled with some extras.
