Since the revolution civil war Arab Spring 12 years ago, the value of LYD kept getting decreasing in Libya. Nowadays everything here follow USD's price swings including its inflation.
One interesting fact is the Bread prices. Each year, either their prices increase just a little bit, or they get just a little bit smaller. The same money gets you less than half Bread than 6-8 years ago.
WOw are you saying that you too experience inflation? I thought is was just we over here, tell us how is energy supply over there and how much do you spend on energy supply.
Energy isn't very expensive here in Libya, compared to other countries and other goods/services. We're an Oil country... Sadly, though, it's getting more and more expensive each year. Not at the worst rates, but still bad rates.
The situation with bread prices is quite remarkable – getting less for the same money over the years. It must be challenging for everyone there. How are you managing through these changes?
Well... We just survive. A lot of people here started working on multiple jobs or do some hustles, and sometimes there are government supported goods that come cheaper at limited quantities, so that helps too.
Thats really a sad situation. But comparing the longer time 6-8 years, the rate of inflation is not as terrible as Nigeria. For example, many items especially bread has had a 100% inflation rate here in the last 2 months. Naira our local currency is loosing value and current exchanges 1800 to 1 USD
Wow, that's terrible... Hyperinflation is really sad. May God keep you guys strong.
If little things such as bread follow the USD price swings and it's inflation,then other major things might be worse. Raising a family now and comfortably feeding is a challenge for the middle class not to mention the poor masses.
Yes, I'm just using Bread as an example because it's an easy reference point. Some things are better, others are worse!!