By Oluseye Ojo It is the Christmas season. And many in the country have upped the ante of preparation for the time-honoured tradition of celebrating Christmas and New Year. It has always been a season filled with joy, love, and giving.
It is one time of the year that many patents have symbolically, on an annual basis, bought new clothes and toys for the children. Parents also take their kids to recreational centres to savour the joy of the season. A lot of children have always looked forward to celebrating the season with news clothes, which they usually wear to recreational centres.
But for many, this time of the year also brings financial strain. Families, especially Christians, apart from buying new clothes, shoes and toys for themselves and kids, always buy live chicken and goats for the festivities. But amid rising inflation in the country, a soaring cost of living and the deepening reduction in purchasing power, families, particularly parents, are feeling the pinch more than ever.
A particularly striking trend that has emerged in recent months is the growing number of parents that are turning to second-hand clothing and shoes for their children, as a way to make ends meet during this festive period. Inflation and its impact on household budgets The impact of inflation on household budgets has been far-reaching, affecting not just basic commodities but also essential items like clothing, food, and education. According to recent reports, the inflation rate has been soarin.
