How does inflation affect your daily life?

Tiger_AU
2022-07-27
Reward Tiger-CoinsReward 20000 Tiger-coins

Hey Aussie,

Australia’s annual inflation rate jumped to 6.1 per cent, its highest level in more than two decades, and it's affecting all parts of the economy. From the grocery store, to the gas pump and the cost of housing, Australians are paying more for everything.

The rise in the consumer price index in the three months ended June 30 was the highest since June 2001 and the introduction of the GST, according to the Australian Bureau of Statistics.New dwelling prices rose 20.3 per cent as government support was withdrawn, while petrol prices soared 32 per cent. Fruit and vegetables prices rose 5.8 per cent because of heavy rainfall and flooding in key production areas of NSW and Queensland that disrupted domestic supply.

How does inflation affect your daily life?

💡Share Your Insights

Please leave a message in the comments section of this post, and share your insights about inflation.💸💸💸

  • Where are you feeling inflation the most?
  • How have you changed your behavior to cope with higher prices and cost of living?
  • What is your biggest concern about the future?

🎁Prizes

  • - All Tigers who comment on the following post will receive 10 Tiger Coins.
  • - In addition, you have the chance of winning 100 Tiger Coins.

⏰Activity Duration

27July, 2022-3 August, 2022

ASX Stocks Opportunities
The ASX is heavily weighted towards financials, materials, and healthcare sectors. Which company or sector are you bullish? Share with Tigers here!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Reward expired
600 tiger-coins have been distributed to 6 participants
Deadline to 05/23 15:18
Reward-post

Comments

  • highhand
    2022-07-27
    highhand
    Win 100 Tiger-coins
    Inflation will persist till next year
    It affects utilities, food and groceries the most
    Need to eat less and save electricity, water and gas
    Biggest concern is Tiger portfolio drop too much in future
  • MHh
    2022-07-27
    MHh
    Win 100 Tiger-coins
    I am a minimalist so most affected in food. No choice, have to eat regardless. Still have to catch up with friends who i miss over the last 2 years. Expect inflation to reduce soon
  • Wayneqq
    2022-07-28
    Wayneqq
    Win 100 Tiger-coins
    Inflation affects everyone differently.. is a hidden tax for poor people because it affects poor people more than the rich… if food price increase from $1 to $1.2.. poor people suffer more than rich
    • Wayneqq: 
      Simply because for someone who earns 1000.. an increase in 20 cents per meal is more painful than someone who earns 10000 per month..
  • LMSunshine
    2022-07-28
    LMSunshine
    Win 100 Tiger-coins
    (1/3) @Tiger_AU Thanks for the detailed sharing & cute post!Feeling infation the most on petrol & foodPetrol used to be 1.2-1.5/l but now it’s 1.9-2.3+/l🥵 All cooked food increased $1-2,for $14,$2 is
  • koolgal
    2022-07-28
    koolgal
    Win 100 Tiger-coins

    It is easy to bemoan the fact that inflation has driven the cost of our daily living expenses up tremendously.  But what we do to handle inflation is within our control. 

    This is my action plan:

    1.  I will continue to stay invested in a diversified portfolio of assets  and dollar cost average into ETFs like $SPDR Portfolio S&P 500 ETF(SPLG). 

    2. Put aside some savings for emergency fund and continue to save. 

    3.  Find ways to reduce my expenses especially in recurring bills like Internet, mobile phone, car and home insurance, gym membership.   Keep an eye out for coupons, credit card deals.

    4. Plan more home cooked meals and shop around for special offers in supermarkets.  Buy fruits and vegetables in season.  If fresh vegetables like broccoli are more expensive, buy frozen ones.

    5. Increase my income like selling on Ebay, take on part time work 

    Above all, I will continue to stay positive and focus on my goal which is FIRE - Financial Independence Retire Early!

    @Tiger_AU  

  • Brocco
    2022-07-28
    Brocco
    Win 100 Tiger-coins
    Inflation is everywhere affecting daily cost. Cut down on more expensive product like phone and only purchase if spoilt or use a lower end phone. Concern with raising cost but salary remain stagnant
Leave a comment
18
15