Inflation Terminology: ‘Extortionate’

~Saturday, October 1, 2022 Blog Post ~

For financial education purposes, I have been reading news articles and online group discussions regarding how working-class people are coping daily with the rising costs of commodities like food, gas, rent, and so forth.

I joined this Facebook group called “Cost of living tips, tricks & ideas,” which I understand is based in the United Kingdom, for financial education purposes. One of the members mentioned the term “extortionate” when describing a supermarket.

I think it is important to learn this inflation-related terminology’s definition which I screenshotted from Google:

It is certainly harrowing for people to be so badly impacted by the ongoing cost-of-living crisis globally.

I think governments should work harder to increase pensions and wages to match them with the soaring inflation rates.

References:

https://www.facebook.com/groups/395387868684431/permalink/504532791103271/

https://www.nytimes.com/2022/09/30/business/eurozone-inflation.html

https://www.standard.co.uk/business/borrowing-crisis-liz-truss-capital-economics-b1029116.html/

https://www.telegraph.co.uk/news/2022/09/30/nurses-leaving-nhs-better-paid-pub-restaurant-jobs/#Echobox=1664519195

https://www.telegraph.co.uk/politics/2022/09/29/benefits-hit-liz-truss-tries-stem-mini-budget-bleeding/?li_source=LI&li_medium=liftigniter-onward-journey

https://www.telegraph.co.uk/royal-family/2022/09/30/change-reign-new-commemorative-coins-feature-king-late-queen/

https://www.theguardian.com/money/2022/sep/29/buy-to-let-landlords-mini-budget-mortgage-market-meltdown

https://www.thesun.co.uk/news/uknews/19926097/cost-of-living-crisis-shopkeeper-wall-unpaid-receipts/