Currency being one of the highest powers in our everyday life, requires changes for the better and to maintain stability for currency.
Money is the core of living a happy life, with the inclusion of “everything has a price.” People as such protect money, and save it for when only needed most. Others of higher class are able to purchase wants rather than needs.
With this in mind, wants can be inferred as something people can only wish for, but as times change, people start having more money and are able to purchase these wants.
With the wants in people’s possession, they don’t really work as much as they would usually do. The money they have saved up for is used for the next want and is already prepared for the next need.
The government takes note and, in a wanted utopia, people have to work for things. In which case, the way to handle this problem is to simply increase the prices of everything.
On paper it was simple, no drawbacks, no side effects, just a little increase in prices. The goal was that with higher prices of needs, people couldn’t really buy their desired wants.
Inflation has been a thing almost since the start of currency, and prices for things have come a long way.
It was more closely related to trade back then, as in starting from 600 BCE, that’s what it was. A coin for a gallon of milk, a coin for a pound of steak, a gallon of milk for a pound of steak, so on and so forth.
Everything was worth about the same amount, until inflation was applied by the government or king at the time.
And then it was two coins for a gallon of milk, three coins for a pound of steak, two gallons of milk for a pound of steak. Inflation has changed from way-back-when to present day.
Using inflation rates from 2022, inflation went up by a whopping 8.3%. That may seem like a small number, but just for an example, in the year prior, a carton of a dozen eggs was a yearly average of $1.67, and with that increase the next year, became an absolutely outrageous yearly average of $4.25.
This was a ridiculous amount of money, even for eggs, and this went for just about everything as well. Back in the 1990s, you could go into a gas station with some coins and a dollar, and leave with your dinner for the day. Now, you go into a gas station with a $5 and leave with drinks that can be downed in seconds.
Having money this high makes saving up for wants a burden. It’s very noticeable nowadays with video games. Video games were a decent $60, but recently they rose to $70 to even $80 for a small, fictional, digital world.
That’s not even the fact that saving up for needs is a burden. Rent, taxes, bills, groceries, gas, and medicine all round to a monthly average of $1,500.
Inflation has caused people to hesitate on simple purchases when back then you just threw it in the cart. Inflation has gone too far as money is being stressed on usage.
Rising prices are forcing many families to adjust their spending habits to cover basic needs. Inflation needs to be more focused on by the government and be stabilized or better yet be stopped.
