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

The expenditure for living is increasing significantly in many nations worldwide. There are several negative effects of

this

trend, including financial stress; luckily,

this

issue can be solved by some measures

such

as inflation control.

Firstly

, human life standard is badly affected because the cost of necessities

such

as food and renting is rising,

therefore

, a lot of people can not afford them.

As a result

, human health is not maintained, and the ratio of homelessness and starvation will get out of control.

For example

, research indicates that the number of homeless folks around the world is growing remarkably

due to

the incredibly high living prices.

Moreover

, education fees

also

get higher over time, leading to a number of non-educated children in poverty families. These children will not be assured of getting jobs in the future and may live in deficient like their parents.

On the other hand

, a possible method is collaborative efforts. Governments must guarantee the price of necessities will not increase gradually by forcing big producing companies to maintain the price of their goods for a period of time.

Furthermore

, authorities must come up with new wage adjustments. Many employees in rich enterprises earn less than what they need,

thus

, governments must ensure a higher basic salary

that is

enough for the normal community to afford their living.

For instance

, an innovation in law about wages rising in Australia has made a great positive impact is the proportion of homeless people witnessed a reduction. In conclusion, higher living costs may have a number of drawbacks,

nevertheless

,

this

phenomenon can be resolved by many measures.

Thus

, governments worldwide must be aware of

this

and take steps to deal with it.