I Had An Encounter With Inflation Yesterday. - Investment - Nairaland
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| I Had An Encounter With Inflation Yesterday. by osile2012: 5:29pm On Jul 31, 2016 |
[size=18pt]Most times we read about inflation on the news, but we dont really feel it. Maybe a bottle of soft drink that use to sell for 50 is now N70, or pure water that use to sell for N5 is now N10. Its not much of a big deal to us, since we can easily overlook them. Some will ask, is that the inflation you complain about? I used to service my car with Max 6k. I buy 4 litters of mobile oil for N2,800, buy extra 1 litter for N1000 (V6), oil Filter N1000, then pay mechanic 1000 TOTAL (N5,800). Yesterday i was at the mechanic to service my car . Gave the mechanic 6k to service car, he counted the money and laughed. He said oga this money no reach oo. I was like meaning what? He said 4 litters of mobile oil is N4500, 1litter is N1,400 , oil filter is 1300. This is N7,200 plus 1k workmanship . N8,200 . So from N5,800 to N8,200 a difference of N,2400. Multiply that by 12 months =N28,800. As if that was not enough, My bus just came from abuja and the driver complained of over heating which affected the top gasket. I decided to get a new radiator . So while they were servicing the car, i asked the other mechanic who was suppose to change the radiator how much it was, he said he was not sure but from what he bought 3 months ago, it wont be more than N15,000. I was like, ole, N15,000 for what ? i will follow u to go get it. We entered Keke together and went to buy the radiator where they sell spare parts . In other for me not to be cheated, the first place he said we should check, i said NO. Went to the next shop, just incase he had made arrangement with them . When i asked how much the radiator was, Guess what i was told? N35,000 . I shouted, even the mechanic shouted and tried to explain the type of radiator he meant. The man went into his shop and brought it out, the mechanic confirmed it was the one. He said the last price was N32,000. I still felt this was a planned deal, crossed the road and went opposite the line. I know the mechanic cant plan with the whole market . By the time we went to about 6 shops, it dawned on me that this was reality. This was actually happening . Had to do transfer to the guys account because all i had on me was 15k. I imagined if i had given the mechanic 15k, and he calls me on the phone to tell me it is now 30k. I would have said he is crazy, He thanked GOD i went with him. I would say i really had a face to face encounter with inflation yesterday.    [/size] 2 Likes |
| Re: I Had An Encounter With Inflation Yesterday. by Nobody: 5:47pm On Jul 31, 2016 |
It is that serious.... what pains me most are all these ppl who use d statement;it is well, to cover up the uncoverable. It may be well later but at the moment, it ain't well. 1 Like |
| Re: I Had An Encounter With Inflation Yesterday. by osile2012: 6:28pm On Jul 31, 2016 |
[size=18pt]For all those investing in long term bonds, be sure of what you are doing. I can imagine someone who invested in 5 years bond 2 or 3 years ago, how worthless their money could be now.[/size] |
| Re: I Had An Encounter With Inflation Yesterday. by Nobody: 7:46pm On Jul 31, 2016 |
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| Re: I Had An Encounter With Inflation Yesterday. by mekaboy(m): 10:10pm On Jul 31, 2016 |
Shey u wanted Nepa certificate? Now our currency is like Nepa Bills. 1 Like |
| Re: I Had An Encounter With Inflation Yesterday. by uboma(m): 10:25pm On Jul 31, 2016 |
lol |
| Re: I Had An Encounter With Inflation Yesterday. by Adesiji77: 10:32pm On Jul 31, 2016 |
Hyperinflation... 1 Like |
| Re: I Had An Encounter With Inflation Yesterday. by osile2012: 9:20am On Aug 02, 2016 |
[size=18pt]Abeg ooo, Inever asked for NEPA certificate. Infact i did not vote.  .[/size] |
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