The cost of living is higher in many countries.

What is the effects of higher prices to individuals

and society? What is the best way for people to deal with this problem?

The demand of bare necessities of an individual is getting higher and higher due to the globalization
process, leading to the cost of living has been surged remarkably in recent years. Although
authorities of some countries announced that inflation could help boosting the economy, the rise of
living cost could do harm to the one nation in the long run.

Low - income households may be the first ones who suffer severely from the higher living cost. If
the expenditure of basic needs keep increasing remarkably, they might be left with little money for
saving as well as other expenses and have to struggle to afford their daily essentials. Consequently,
people will be under the pressure of earning a decent living and take higher risks of suffering mental
health - related issues. The