With a rising inflationary economy, families are not only redefining the essence of Christmas but also teaching people what it means to have little and still be happy this holiday season.
For many people, Christmas and the holiday season are extremely vulnerable times—to the point where family violence and heart attacks all reach their peaks. The risk is highest for people going through significant life challenges, particularly those going through loss and grief, family dissolution, illness, or financial difficulties.
The season’s stress and strain affect those with more privilege as well, but not entirely. Christmas can occasionally be a time of stress, family strife, despondency, and loneliness rather than peace, love, joy, and togetherness.
“Studies show that, especially for women, the pressure to always please everyone can reach epic proportions during the holiday season”.
Managing Financial Crises
At Christmas, a number of significant tensions intensify, beginning with financial concerns.
Some households are horrified by the rising cost of commodities in a nation like Nigeria, where inflation is on the rise, particularly during this Christmas season.
Through 2021, inflationary pressures started to spread, especially in Africa, Western Asia, Latin America, and the Caribbean. Due to rising food and oil prices, disruptions in the supply chain, and the depreciation of local and domestic currencies, it was noted that these regions had headline inflationary figures in the double digits.
Indeed, inflation is the enemy of every economic system, but it is especially dangerous in developing nations where it is expected to be higher and more unpredictable.
The inflation rate increased year over year in June 2022, rising to 18.60 per cent. This is 0.84 percentage points higher than the rate, which was 17.75 percentage points in June 2021. Accordingly, when compared to the same month the year before, the inflation rate rose in June 2022.
All classifications of individual consumption by purpose divisions that produced the headline index showed increases. On a monthly headline basis, the inflation rate increased month over month to 1.82 per cent in June 2022, up 0.03 per cent from the rate seen in May 2022 (1.78 per cent) change in the average composite Consumer Price Index for the twelve months ending June 2022 over the average of the CPI for the previous twelve months period is 16.54 per cent, showing a 0.62 per cent increase compared to 15.93 per cent recorded in June 2021.
For instance, a bag of rice that was sold on Tuesday for N33,000 was sold on Thursday for N33,500. Not only have the costs of staples like rice, vegetable oil, eggs, and wheat flour skyrocketed, but so have the costs of other necessities.
A rice vendor in Ogun State remarked, “Things are now expensive.”
Understanding The Christmas Spirit
The Christmas stereotype depicts large happy families and their many friends gathering for a joyous occasion. However, many people are alone at Christmas for a variety of reasons, the most common of which is family breakdown.
Despite the high cost of goods this holiday season, some families are rediscovering the true meaning of Christmas by celebrating with what they have.
While speaking with some families, Diademng was told that Christmas was not just about eating, but also about celebrating the birth of “Our Lord Jesus Christ.”
Mrs Nike Okoi believes that knowing the reason for the season is more important than wearing new clothes and eating rice and chicken.
“Though things are extremely expensive, we must find a way to understand that Christmas isn’t just about eating rice and chicken and wearing new clothes,” she said. It’s all about Jesus. That is our hope for some of us, and we must look beyond our inability to buy what we want.”
“Though things are extremely expensive, we must find a way to understand that Christmas isn’t just about eating rice and chicken and wearing new clothes,”
“We have always found a way to celebrate Christmas with our families and will continue to do so. “Whether we have much or little, it is critical that we uphold the true meaning of Christmas,” says Mr Adeshina Williams.
According to the United Nations Department of Economic and Social Affairs, rising global commodity prices are wreaking havoc on poor households, which spend a much larger portion of their income on food.
The UN noted in its analysis of the economies of developing countries that the poorest households would be most impacted by rising inflation in these countries, including Nigeria, where it is higher.
The analysis read, “The sharp increase in food prices risks pushing millions more into poverty while exacerbating inequality even further.
“Worryingly, surging food inflation could worsen food insecurity in many developing countries that are still struggling with economic shocks from the pandemic,”
