Another year another budget. If Covid 19 was not bad enough for the government to deal with. We know have a high probability of a NO Deal Brexit before the month is out!
What is determines the price of a product or service?
Every day we buy products and services. Some items are essential such as fuel for running our cars and keeping our homes warm. Also, we do a weekly shopping, buy milk, cigarettes or bread every few days.
If you budget, your money wisely. You will notice the continuous rise of the cost of our daily living. The rise of prices is known as the inflation. Inflation is on of the most interest topics within the study of economics.
Inflation can be narrowly defined as the continuing rise in the price level of a good or service. As a smoker I am all too well familiar with inflation within the Irish economy. Excise duty of on the price of a pack of cigarettes has been increased by the government again. This year the price was hiked by 50 cents.
Now, my only luxury will cost me 13.90 per pack.