Looking a few years back will make you think how much the world economy has changed. Many things have gotten more expensive than they were a few years ago. Inflation is one driving cause of this change. Let's look at a few things that have become way expensive over time.
If you ask your parents and grandparents, they will tell you housing was so easy in their time. But today, it has become quite a headache. Property rates have sky-reaching limits. Lumber cost has also increased a lot. Today, it will cost you a hundred times more than your grandparents spent building a home from scratch.
With time, medication costs have significantly increased. It was not cheap even in the old times. But today, they are the most expensive. There are various reasons for their high prices, such as growing governmental taxes and inflation. Besides this, it costs a lot in their research in development. As with technological advancement research sector has also become quite an investment.
In comparison to the old time, vehicles have become more expensive with time. It was easier to have a car in the past. Today, the cars themselves are expensive. Technological advancement, inflation, and global demand have made them quite pricy. Even if you get a car, it's difficult to main its monthly expenses such as fuel and maintenance.
This is one of the most growing sectors. It is getting expensive with each passing year. The school expenses from primary schools may be low in a few countries. But as the child goes you high school. Their tuition fee starts getting high and high. Besides the school fee, there are many other expenses, including books, notes, and stationery. It's all so expensive to manage for a few that they leave their studies for good.
Being our basic necessity, food is getting crazy expensive with time. It was so cheap a few years back. Looking at the food bill today will give you a crazy shock. Eating junk food is expensive. Eating healthy homemade food is way more expensive. Besides this, eating at a fancy luxury hotel will be way more costly than your 2-day meal cost combined.
One of the most expensive sectors is health care. You can go anywhere in the world and realize it's pretty much the same everywhere. In a few underdeveloped countries, the situation is worse. Even in developed countries, doctors, fees, medications, and even health insurance will cost you a lot.
With each passing year, taxes are one of those things which are increasing continuously. Looking back will make you realize it was not that much back then. But now, taxes have gone mad high. The main cause of this increment is the extensive projects and increased government services. People get even more heartbroken when they earn less and spend more paying taxes.
Traveling was never free. It has always remained expensive. Some countries were more expensive than others, even in the past. But today, since inflation has risen, traveling has become the most expensive thing. You cannot travel without having thousands of dollars in your bank account. And there is no second option in this matter.
Gasoline is a natural resource that comes out naturally and is pretty free. It used to be the very least expensive item in the past. But as the inflation is going up, their prices are also skyrocketing, especially in those countries where it's not a natural mineral. And they have to buy it from other countries. They get pretty much expensive, including their import and custom prices.
One of the primary essentials of human beings is clothing. Everyone needs clothes, and everyone has to buy new clothes every now and then. But these clothes, with time, are gradually becoming so expensive. A few years ago, they were pretty much less costly. And their pieces from a decade ago will amaze you. Luxury brands have taken their price tag quite on a high level.
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