Post
Topic
Board Economics
Merits 2 from 1 user
Re: Savings during inflation
by
Fara Chan
on 15/09/2022, 12:09:27 UTC
⭐ Merited by fillippone (2)
During inflation, price of goods might have increased rending your saved money valueless. In 2020, a friend bought his middle generator at #46,000. I had the same amount but decided to save mine in bank. Last week, I decided to buy the same generator, just to check a store online to see price was now  around #85,000.
For new items or products that you have displayed, the price is likely to increase over time, but different when the item is used, the selling price will decrease from the previous purchase, this example is more appropriate for people in need, but not in the general category

CONCLUSION
During inflation, always purchase all you need on time without delay to avoid rapid increase of such commodity.
I don't think the items you've shown don't fall into the necessities category, so it's impossible to buy them just for storage. If we insist on buying, then we only need one item, which means this is also not suitable in my opinion.
Because for some people, goods are tailored to the needs to be purchased.
Inflation occurs due to several factors, but to compare examples like this, I think it's still relatively common.