Post
Topic
Board Economics
Re: Inflation and it's impact to the common man
by
Iranus
on 05/12/2024, 10:06:40 UTC
The effect of inflation on oil prices also causes the cost of transportation to increase, which means that the prices of many products will increase. Salary increases are very little compared to inflation, which makes it difficult for people with economies below a certain level to meet even their basic needs. Inflation is a great danger for people with bad economies, and governments must take precautions against it.

Even salaried workers are affected by inflation, while the rate of inflation for people who earn their living without a salary or by working daily jobs is very high. Governments should not let their citizens suffer from inflation.

According to what you said, inflation and rising commodity prices are both related to oil prices, so what solutions does the Government need to reduce inflation when oil prices depend entirely on the world? It can be seen that controlling inflation is not as easy as we think because there are too many related factors that need to be resolved and many factors are beyond the Government's ability.

Although the government is responsible for high inflation and the hardship it has caused to people's lives, the entire blame should not be placed on them. We also need to solve inflation ourselves by increasing income by all means, not just blame or rely on the government.