We’re living in eventful times.

The Covid-19 pandemic has hit us all hard, and in the last two years we have had to adjust our behaviour while at the same time governments have had to juggle in between controlling the spread of the virus and maintaining economies. It was not, and it is still not, an easy time.

The pandemic is not over, but matters worldwide have been exacerbated in the past two weeks with the invasion of Ukraine by Russia. It has sparked a humanitarian crisis and, with no end in sight as yet, it is likely that it will be having an impact on economies too. Just to give one example, Ukraine and Russia account for 30 per cent of the world’s wheat, and so it stands to reason that any shortage will lead to an increase in the cost of wheat products.

Most of us who go shopping regularly – be it for basic needs or other commodities – have noticed a rise in the price of the items on the shelf. People who buy the same things over and over again have realised that they are now paying much more for the same products.

Whether it’s bread, milk, fruit, pasta and now even the traditional Lenten sweet kwarezimal, we have realised that their cost has gone up – and not by a few cents. The price of these and many other products has increased sharply, and there are many who now cannot afford to buy the same things they used to buy until a few weeks ago.

Items that are imported have gone up in price because transportation costs have increased, and this is a result of fuel prices going up. As an island, we have always been at a disadvantage because we do not just need trailers and containers to bring over our necessities – we also require airplanes and ships, and this costs money.

Apart from physical items, it is to be expected that the price of services will also go up. People who require the services of a doctor, a lawyer and other professionals will soon find out – if they have not already done so – that their costs have risen there too.

At the end of the day, it is always the consumer who has to suffer when this happens. There are people who will still have the means to retain their normal life, but there are many others who will have to cut down on their expenses to be able to survive. They will have to live with less.

At the lower end of the social scale, then there are many who will risk going across the poverty line. It should come as no surprise if, when the next statistics are issued, we find out that the percentage of people living near or below the poverty line has increased.

It is common knowledge that any rise in salaries does not make up for inflation. It helps, but it is never enough. This is perhaps why, especially when an election is coming as is happening in Malta, political parties are pledging more and more financial assistance to people, in all forms and shapes. Few seem to realise that these “gifts” are being paid for by all of the taxpayers, or will be passed on to future generations.