Nigerians Moving to a Stage of Extreme Frugalism - Inflation Hitting Hard

You know they say "better late than never", and I am better late to this than not doing it at all. Hi @terganftp, sincere apologies for the delays, been really busy with a lot outside the chain.

I've seen you've got the prices of staple foods already here in Nigeria, and I must commend you for your work and efforts in critically analysing the Nigerian economic situation. It's been a long, exciting and worthwhile journey with you birthed by the Hive Learners prompt on inflation where we live.

Enough of the preamble, what's this post all about? I intend to provide a run down of the current prices of staple foods, but what is more, I delved deeper, to share there inflated prices from 3-9 months before, compared to current prices.

Trust me, it would interest you how bad the situation has been in Nigeria.

Slide One

* There's an error in the percentage calculation for sugar, it's 100% instead of 133.3%

Slide Two

Analysis of the Findings

It is important to note that these are personal observations and no stringent scientific processes where employed to provide these slides. However, I can guarantee that what you're seeing here is nothing too far from the reality here in Nigeria.

As is seen in the slides above, inflation has risen from about 16% for some items to above 100% for others.

Inflation is so high and out government is just clueless as to the correct path to take to curb the rising inflation (or maybe they seem totally uninterested?).

Why we wait to top-level intervention, we Nigerians are defaulting to extreme frugality, as we just want to survive and make ends meet. We hope things get better soon, but till then, we continue Being Frugal and Not Stingy as much as our circumstances permit.

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