In some counntries, the cost of living is rapidly increasing. What do you think may be the reasons for this? What effects might this have on society?

In many developing nations, the cost of living is rising quickly.

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essay will discuss reasons and effects on people's lives in forthcoming paragraphs. To commence with the cause of

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view, Is that average household income of that country is very low. To explain, folks are working very hard for better living standards,

however

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, they are not getting higher pay.

Due to

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that, their earning is decreasing drastically.

For Instance

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, a survey conducted by The University Of California indicates that the average American earns only 35,000$ a year and they are not able to provide for their family. The main effect of

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Is that people are going to banks and eventually in debt. Another reason behind

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, Is that the country's Imports are rising and exports have decreased drastically over the period of time. To elaborate, a nation's economy depends on goods that they export and import into their country. If they Import more and more products from other territories they they have to pay a tremendous amount of money from their own pocket. To cite an example, a headline of The Time of India shows that Pakistan's exports are less than Imports

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that they have poor economic conditions. Because of that citizens of Pakistan can not afford the basic needs to live.

To conclude

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, below-average household incomes and high import rates are the prime reasons behind the rapid increase in living costs and people are in debt

as well as

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not being able to provide basic necessities to loved ones.