Value of Purchase

 Any country right now must be faced an increase in the inflation rate. It can be considered as a benchmark for the economy of a country. Does the rising rate of inflation mean that the economy of a country is getting stronger?.

Everyone has known the effects of inflation on the economy and finances of a country. Has the government done what it should have done in ensuring that the inflation rate drops?.

In my opinion, let those who specialize in economics figure out how to manage national inflation. For people like me, think more about the value of money at this time, especially when the world is squeezed by various crises.

In the past 10 years, I think that the difference in the value of money, based on the ability to buy necessities, is very noticeable. The value of RM50 in 10 years is bigger than now. Only RM50, able to buy 50%-70% of household items before compared to now only being able to buy 20% - 40% of items.

Although the government provides financial assistance to low-income people. Has the situation changed? The value of RM50 when buying, the smaller the number of essential items that can be bought. Is this called reduced purchasing power?.

Why are the prices of basic necessities getting more expensive?. In my opinion, it is caused by manipulation of certain products in the market by the company. Causing an imbalance between demand and supply for a product.

When there is a situation where demand exceeds supply for a product. Automatically, the price of the product will increase and it will cause the buyer to pay more than usual to get the product.

As buyers, we must manage our financial budget wisely. we don't want a situation where more and more money is spent while the amount of necessary goods that can be purchased is getting less.

I think that the government should provide information or exposure to the people. Especially in rural areas on how to manage family finances when the price of necessities increases.

If there is an item whose price is increasing in the market. So the buyers should buy less of those items and start switching to buying cheaper items.

The value of RM50 for the T20 income group may be small compared to those in the B40 income group.

If there is a choice, then start choosing the cheaper items even though they may not be 100% the same as the expensive ones, but remember that we all have different buying abilities.

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