The tyranny of rising prices
Like the aunties, you may be feeling the pinch of rising prices. Your lunch at the local hawker centre is not as cheap as before. If you drive a car, you may feel the pain of higher petrol prices....The most acute truths appear when you least expect them.
One day, I found myself in the same lift as two trolley-trotting aunties headed for the nearby wet market.
With a sigh, one aunty shared a simple observation with the other:
“S$50 used to last me a week. Now, it’s gone in three to four days.”
Her words were profound in their simplicity.
In a few words, the lamenting aunty summarised the impact of the time value of money that we all feel in our daily lives.
Simply said, our money today is worth less than the money we had yesterday.
