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Nairaland Forum / Nairaland / General / Politics / Dollar Is Crashing But Prices Of Goods Are Increasing (3720 Views)
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Dollar Is Crashing But Prices Of Goods Are Increasing by Breatheon: 7:15pm On Mar 28 |
All the blame was put on dollar rise. Now that the same dollar is crashing, why prices of goods not also crashing? I bought a bottle of coca-cola (coke) for N550 today, as against last week that was N500. What is going in this country? 16 Likes 4 Shares |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by successmatters(m): 7:17pm On Mar 28 |
Let us see if its sustainable first, do you want me to reduce prices today and when the dollar returns to #1,900 then I will rush and raise prices again? We the producers are not as inconsistent as your FG. 15 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Richtaiwo: 7:18pm On Mar 28 |
Your own na small. I bought a bottle of Fanta yesterday at N3800. Today, I bought same bottle of Fanta at N7400. Na game of who lie Pass. 29 Likes 2 Shares |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by nairalanda1(m): 7:22pm On Mar 28 |
Well, we aren't earning enough dollars and your government is not doing much about it except to paint the pig that is our bad economy white and pretend it's a ๐ฆ unicorn 25 Likes |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by budaatum: 7:24pm On Mar 28 |
You all need to state how many litres in this your bottles so we can compare like for like. 2 Likes |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by muhammaduyusufu: 7:24pm On Mar 28 |
It's greed . Nothing else. 20 Likes 2 Shares |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Verbtips(m): 7:27pm On Mar 28 |
Breatheon:if you bought goods when dollar is 1400 and dollar suddenly crash to 500 you expect price to also crash dey play IT WILL TAKE UPTO 9 WK 4 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by kahal29: 7:31pm On Mar 28 |
Breatheon: It's called the theory of sticky prices in Economics 4 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Father4all: 7:49pm On Mar 28 |
I wonder ooo 1 Like |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Breatheon: 8:02pm On Mar 28 |
Richtaiwo: You really think I lied? |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Paraman: 8:04pm On Mar 28 |
nairalanda1:What's Botswana and Guinea producing? Why's their currency not falling like the naira did? 11 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by GodHimself: 8:17pm On Mar 28 |
Thereโs a broad range of people on Nairaland. By their posts ye shall know them. Breatheon: 1 Like |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by MadamExcellency: 8:17pm On Mar 28 |
Paraman: People refuse to understand that trust is integral part of sustainable growth and economic development. Naira lost the trust of Nigerians and it will take a while to restore the credibility. The money I have in my dollar account was bought at the rate of N768 per dollar. 3 Likes |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Aboks(m): 8:20pm On Mar 28 |
Naija 4 u |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by CodeTemplar: 8:22pm On Mar 28 |
nairalanda1:from what I understand, manufacturers have produced and have warehouses filled up but buyers are not forthcoming. The dollar is also going for lesser than it used to four five weeks ago. Those factors may not be enough to crash prices of import dependent manufactured goods. What I find strange is food prices not going down relative with dollar-naira. Harvest of since last year were inflated almost immediately because international prices have shifted with weakening of Naira but why aren't they doing a reverse shift with dollar rates now? 1 Like |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by CodeTemplar: 8:24pm On Mar 28 |
Paraman:They may not produce much but importing less relative to the export is the key here. We are giants of Africa, yet a poverty capital. 4 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by BondRiv: 8:29pm On Mar 28 |
Greed is going on. 4 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by mymadam(m): 8:30pm On Mar 28 |
GodHimself:๐ฏ |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Tallesty1(m): 8:32pm On Mar 28 |
Breatheon:How exactly is dollar crashing? 1 Like |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by anyilalaz: 8:33pm On Mar 28 |
Custom duty has not step down. 2 Likes |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by pquaver(m): 8:34pm On Mar 28 |
Verbtips: But same good u bought when dollaes was 500 u immediately increased the price when dollar rose to 1900 abi? Dey play 13 Likes 3 Shares |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Paraman: 8:41pm On Mar 28 |
CodeTemplar:We exported more than what we imported last year. |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by OGwales(m): 9:15pm On Mar 28 |
Can you imagine we Nigerians, we are really unbelievable. Yes, when dollar increased it didn't take 24hours before people started adding price, now Dollar reduced the prices of things haven't reduced an inch. Later una go dey shout Tinubu. Since I was born, I have never seen when the price of a commodity reduced after increased, not even pure water ๐ฆ 11 Likes 3 Shares |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by GentryAbi: 9:26pm On Mar 28 |
I thought ibos won't complain? You celebrated by mocking others when the prices was going up and now you want it down? 1 Like |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Donaldoni: 9:27pm On Mar 28 |
anyilalaz: Exactly! The custom duty is now equivalent to the exchange rate. That's why things are expensive Before, it used to be 500-900 2 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Donaldoni: 9:30pm On Mar 28 |
OGwales: Thank you Nigerians are savagely greedy They sell old stock at the new rates in the market because of the very stupid argument that they need to restock when they are done selling In actual fact, they cash out and don't really restock as much as they used to because the demand will definitely drop as the market reacts. 5 Likes |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by OfficialAPCNig: 9:33pm On Mar 28 |
Freshyo used to be #400 but yesterday they told me the new price is #600. I thought it was a joke. I went to the second shop and they told me the price is #700 while it's #600 at the third shop. Something is not adding up 6 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by talk2hb1(m): 9:36pm On Mar 28 |
E tire me 2 Likes |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by aguluobi: 9:46pm On Mar 28 |
So it is now trust n not what we produce again. I laugh when the multitude of obidient Ipob on NL comment, I laugh because each n everything you say is predetermined in bigotry hate n outright foolishness. Your comment below is a typical example. MadamExcellency: 2 Likes 1 Share |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Verbtips(m): 10:30pm On Mar 28 |
pquaver:as a bizness man will you like to put your self at disadvantage |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by Kloenboi: 11:01pm On Mar 28 |
Goods that were bought when the Naira was N1900 to a dollar |
Re: Dollar Is Crashing But Prices Of Goods Are Increasing by VinnyBaba: 11:07pm On Mar 28 |
Very true, OP.๐ Prices of foodstuffs and Household still remain the same. Hungry Man size Indomie is N900! Only N100 reduction from the N1000 prize. Tinibu no Try at all. ๐ 1 Like |
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