Inflation has become the main concern of not only developing but also developed countries as well, and it seems that the rising inflation value is tied directly or indirectly to the crypto market. The crypto market has been suffering from consistent price drops and negative price momentum across the board, but only recently has it found some kind of grip on this disastrous situation; the ripples of this effect can be heard and seen among the rising inflation for various countries out there.
The overall inflation value at which the UK sits at the moment is 10.1%, and this is the highest inflation has been for the country in the last forty years or so. It means that there are 2 billion people out there in the world, along with the UK, that have been robbed of their purchasing power; goods and services are sitting at an all-time high than their recent decade-wise prices if we go into the past.
The office for the national statistics has printed out the recent statistic around the rise in prices, commodities that are really on the red checking list for the steep rise in their prices, and how people are reacting to the whole situation.
ONS’s Report
According to the ONS, the fuel, transport, and the cost of food and beverages going sky high are to blame for this present crisis in the rising inflation, and the state seems to have no control over it as well. People have been warned time and again that this kind of scenario is approaching slowly but steadily and that they should brace themselves ahead of time.
If you think that your country or people are safe from inflation and its rising tides, then you definitely need to think again. Everyone out there is suffering; people have their purchasing power robbed from them, and states seem entirely at the mercy of the taxpayers.
The crypto market might or might not be at the core of everything here, but there is one sad, bitter truth about the whole situation, and that is states saw this thing coming miles away, and they still didn’t do anything about it.
