British pound sterling no longer has its value as it was around 50 years ago. Now its value is actually lower by 94%. This cash value decline can be seen and it is reflected in consumer goods and food prices. As it was written in the British newspaper The Guardian that during the last half century the prices of consumer goods and food rose around of 18 times. This is a huge difference. For example a pint of beer sometime in 1960’s cost only 33 Pence (47 Cents) and now the price have grown up to nearly 3 Pounds (4,3 Euros). Milk prices in Greta Britain increased from 3 to 44 Pence and these numbers continue to grow even now when actually people experiencing economical crisis and they don’t have so much money as they use to. It was analyzed by BM Savings that probably within the next 50 years the value of British Pound Sterling will decrease by another 63%, which would actually mean that the prices for consumer goods and food will increase hugely. It is presumed that a loaf of bread will cost 2 Pounds more on top of 3.20 Pounds that it costs already and the price of a pint of beer will climb up to nearly 8 Pounds.
The specialists have noted that the money actually began to depreciate very fast since the eight century of the last decade when the annual inflation was around 13%. Even though the annual inflation has decreased by a lot since year 2000 and it is only at 3%, still, the value of money continues to depreciate significantly and there is no true reason for that now. It is estimated that probably after 10 years 130 Pounds is worth only a 100 Pounds.
What is going to happen in a future only time will tell, but the fact is that the prices will continue growing. So what people can do in order to survive, especially now, during the crisis and when the pockets are so tight.
Main source: http://www.ekonomika.lt