I relocated from my country about 6 months ago and while i did get reports on how things were difficult in the counrry, I wasn't following up much on the details like the prices of commodities, goods and services. I simply just increased how I supported my family back home with thoughts of things weren't too bad. However, lately I have been speaking with a few family members, collegues and friends on the current prices of things and the inflation is just outrageous. Like how the prices of things tripled and quadrupled in just 5-6 months is simply out this world. There was no war, famine, natural disasters or economic santions that should result in that kind of inflation, but it happened and is still happening. All I could wonder is how the masses lived and coped with the harsh situation with minimum wage for a month still at 30,000 (less than 25 dollars). I simply can't imagine what they would be gohng through. Crime rate is up of course as people would rather resort to stealing, looting, kidnapping, prostitution, bribery and extortion when they feel thats their option to fast easy money.
So what's the way forward? Firstly, I believe the fact that there are no strict regulations on thr country governing prices of goods and commodities has maked inflation a major issue. Also, its unfortunate that most citizens are selfish and would rather increase the prices of goods for silly reasons like the value of dollar has gone up even when than make life easy for their country men. I'm no financial expert but this sort of inflation needs to be urgently addressed to save future generations from the chaos ahead if nothing is done. I'm hoping our government looks deeply into this and make necessary amendments for the good of the country and her people.
