Cost Cutting.
Inflation is going sky high. Our cost of living increased by 30%. It's not a statistic but what I feel in daily life. To be very honest I never in my life felt the pressure of cost-cutting like what I'm feeling now.
Dollar climbs to a 20-year high on inflation fears. All the local currencies are losing their value to a great extent. If we look at the crypto market, then all we will see are red candles. This situation is not good for anyone, globally. Wait, by 'anyone' I mean 'we - the commoners'. I know how giant corporations are making money and they will continue because of the capitalistic system.
I was seeing a documentary the other day about how people are becoming economic refugees. The homeless crisis raises up, it's better not to talk about employment. Here in Bangladesh, the situation is not so visible because the media doesn't cover everything. But if you look closely, at your next door, you will see how people are struggling.
The woman who helped me with house chores was sharing how they have to cut food costs because of inflation. They cut down meat intake. Rather consuming dry fish as they are low in cost. She told me that she only buys one egg at a time to feed her son every other day. She can't afford to buy two eggs as the price is almost double.
Our situation is also so better. As I have said, for the very first time I'm facing a real financial crisis. I have already cut off our expenditure on luxury items; from imported snacks to branded clothing we have to reduce our consumption. Yes, I'm not embarrassed to approve.
It's becoming hard every day. The cost of living in this capital city will never go down. On the other hand, our income will not raise overnight. We don't know how we would manage to keep up the lifestyle we have.
People are in much worse situations. I'm seeing the everyday struggle of others. When we go to the market, we see everyone is buying less than before, maybe less than they need.
The problem is we all know the authority is not doing much to come to a solution. No one is asking to go back to the previous market situation because that would not be possible because of the global condition. But there must be some effort from the govt which we are not visible yet.*
I don't know when this situation will improve a little bit. Till then we have to cut our costs...
I feel the same; it feels like 50% to me; goods and services weren't yet raised the price 🥺 especially the oil and gas, which makes me forget some of my things to do. Hays, I hope 2023 is better than this by year, haha. It