How to fight Inflation???

  • How to fight Inflation???

    Posted by Bobby Belfort on August 8, 2022 at 5:27 pm

    Sri Lanka is experiencing an inflationary crisis that has been building for some time now. The Governor of the Central Bank recently announced to expect prices 80% higher than last year, and threatens it may peak at 70%.

    A recent report from Transparency International ranked countries based on how well they protect consumers’ rights in regards withfood price hikes; Sri Lanka’s ranking was nowhere near acceptable – coming close only just below places like India or Indonesia which have seen their citizens suffer throughdays-long queues outside grocery stores due primarily because shops had run outof stock products rather than any controller on supply.

    The main drivers of this inflationary crisis in Sri Lanka are the high levels of government debt and deficit, as well as the depreciating value of the Sri Lankan rupee. The government has been usingprinting more money to finance its expenses, which has led to rapid devaluation ofthe currency. This in turn has made imports more expensive, and has driven up the pricesof goods and services in the country.

    The government has been taking some steps to try and control the inflation, such as imposing price controls on some essential goods, but these have not been effective in stemming the tide of rising prices. It is clear that more needs to be done to get the situation under control, and to protect the rights of consumers in Sri Lanka.

    What’s the Inflation Status in your country? How should traders and ordinary consumers deal with this?

    Pauline Martin-Brooks replied 5 months, 3 weeks ago 2 Members · 1 Reply
  • 1 Reply
  • Pauline Martin-Brooks

    August 9, 2022 at 4:51 am

    Inflation in Australia – the challenge is actually measuring it. I’m fairly certain it’s nowhere near what the government has stated it to be.

    Recently a lettuce cost between $9 and $12 AUD.

    For one lettuce! Thankfully I grow my own ;)