The government is constantly publishing inflation rates which are suppose to represent the countries economic position. Personally I’m confused. I would love to know exactly what is used to measure inflation or where the people who come up with these figures shop.
I’m no financial wiz but I’ve been managing my family’s finances for the past twenty five years. Over the years I’ve learnt to cut, carve and balance all the expenses and we have been surviving. Lately however I must say it’s getting harder and harder. The bottom line is that cost of living has increased at a much faster rate than salaries have.
I consider my family an average Jamaican family. My husband and I both work and contribute to the family’s expenses. Recently however, even with two incomes and much ‘belt tightening’ each month we keep coming up very short.
All the basics, light, water, food, transportation and telephone increases on a monthly basis. The price of oil has more than doubled over the last year and every thing seems to be tied to the price of oil. Not to mention that everything is quoted in US dollars and then converted. The bankers selling rate is presently JMD62.20 to USD1.00.
According to the finance minister Dr. Omar Davis the inflation rate for the first three months of the current fiscal year April 01 to June 30, 2005 is 5.7 percent. The expected inflation for the fiscal year is 11 to 13 percent.
As I said before, I need to know where he shops so I can shop there too. I can’t even begin to imagine how families with only one income manages. Maybe we need to make one of those persons finance minister. Then they might do more for the country with less.Who knows.
Keep sane and make every penny count.
Nuff love