In many countries, the costs of living are rising. What are the effects on individuals and society? Suggest solutions to this problem.

It is true that the living expense in many urban areas is rising.

This

essay will discuss the effects associated with

this

phenomenon regarding individuals and society and

then

offer some feasible solutions to it. There are many detrimental impacts resulting from the cost-of-living crisis. Regarding the people, many mid and low-income households find it impossible to afford the accommodations.

Due to

the competitive public housing price, a majority of individuals cannot rent or buy a proper place for their families, resulting in an increased rate of homelessness.

Also

, citizens could be at greater risk of mental illness. Given the heavier burden to make ends meet, workers tend to reach higher stress and anxiety level, to the point where they can suffer from depression or even commit suicide. In terms of society, the booming cost of urban life could be the root cause of

labour

Correct article usage

the labour

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shortage. Research has shown that there is a close relationship between migration and inflation implicating that people tend to relocate from expensive metropolis to more affordable metro areas.

Consequently

, numerous manufacturing companies will lack human resources which

hinders

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hinder

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their productivity and capability. Various measures,

nevertheless

, can be taken to alleviate the issue. The first possible approach is that government can adopt some policies to combat inflation. Specifically, they can implement subsidy reform programs to protect the poor from rising food and energy prices. The second solution is to cut the tax on petrol, electricity and gas.

This

would reduce significantly prices for consumers and help them deal with rising living expenses. In conclusion, the expensive cost of living in many countries can give rise to various consequences.

However

, steps can be taken to alleviate the situation.