Health
7 Ways to Protect Yourself from Inflation
By Ellie Richards
Recently, the entire world has been affected by the wave of inflation. From the United States to Australia, every part of the world has witnessed the ballooning inflation.
Whether it is a rise in the prices of daily commodities or an increase in property rates, the effects of inflation could be seen in every single sector.
While inflation affects the entire economy of a nation at a larger extent, its effects can also be observed in the daily lives of the common people.
As the prices of goods and services rise, the amount of money spent earlier to buy a specific quantity of a product would now not be enough to buy a similar quantity of the same product.
Thus, inflation increases the entire cost of living of the people in an economy. It also reduces the purchasing power of every unit of currency, eventually decreasing the value of a country’s currency.
Additionally, once there is an increase in the prices of goods and services, it is likely that the prices will either remain the same or increase further without much possibility of a reduction in the inflated prices.
Hence, it becomes extremely important for people to keep themselves prepared for any increase in prices. One of the common beliefs practised from years is a penny save is a penny earned. While this common belief cannot be implemented in today’s world, one needs to be ready to deal with the corrosive impact of growing prices on the economy.
To help you safeguard yourself from inflation, we have compiled a list of 7 ways to save and invest money to reap its benefits in the long run.
Invest in the Stock Market
While investing in the stock market can be a bit tricky, if done wisely, it can be a good way to fight inflation. As the prices in an economy rise, the corporations are likely to sell their goods at increased prices. This leads to a growth in the company’s revenues, its earnings and results in an upsurge of its stock prices. However, while investing in the stock market, ensure that you put money in companies which have the tendency to increase their prices naturally at the time of inflation. For example, companies which deal with commodities or products like grains, oil and metals enjoy the pricing power at the time inflation more than the manufacturers and distributors of electronics equipment.
Buy Precious Metals
Precious metals such as gold and silver can act as great assets to protect yourself from the growing inflation. With a decrease in the value of the dollar, there is an increase in the value of these precious metals. Also, there is a difference in the demand and supply of gold and silver. While silver has a limited supply and is mostly used by large companies across the world, gold is saved by people at household levels. Experts suggest, keeping a mix of both physical gold and silver on hand can be a great way to protect one from the growing inflation. However, before buying gold and silver, make sure that you buy it from verified dealers and avoid yourself from being scammed.
Invest in other currency
Economists of different countries generally compare the value of their currency with the American dollar to see if there is any appreciation or depreciation in their currency. The trends suggest that a decrease in the American currency results in an increase in the value of other currencies and vice versa. As investing in any currency can be risky for beginners, conduct an in-depth study of the currency trends before investing. Also, rather than investing in a single currency, try to diversify your investments in different currencies. Furthermore, to save yourself from getting duped, instead of buying paper currency, it is wise to keep physical currency in hand.
Buy a Property
Property is another great asset which can save you from inflation. Whether it is a house for yourself or a plot of land or a positive cashflow real estate, investing in the right property can be rewarding. For example, buying a house for yourself will save you from increased rents during inflation. Additionally, if you own land at a lower price, after inflation, you can get a good amount of money if you decide to sell it. Whereas, if you buy an additional real estate, renting it out will help you generate a passive income for the coming years.
Start a Side Business
In today’s world, depending on a single source to generate income is not sufficient. If you are working in a full-time job, you might have very little control over your monthly income. By starting a side business, you begin to build your asset that sees an increase and decrease in its value with the rise and fall of inflation. At the time of inflation, this side business can help you generate extra cash flow every month, which will cushion the consequences of inflation and will also give you the power to save some extra money.
Save Money at Better Paying Interest Rates
Whether there is inflation or not, saving physical cash is always a good idea. To get the most out of your savings, check out for saving schemes which come at highest paying interest rates. The rise in inflation will have no significant effect on your money and it will be safe in the banks. Additionally, the interest you will receive will make sure that your money keeps on increasing from time to time.
Control your Expenses
Although savings and investments are essential for staying safe from inflation, one of the most important factors which we neglect is controlling our expenses. So, if you have a habit of overindulging in shopping and buying things which are not needed, then think twice. Also, while applying for a loan for property or vehicle, do not forget to fix the rate of interest. This is one of the widely used hedging processes which will save you from paying increased interest rates as once the rate is fixed, you will no longer be subject to the growing expenses.
Health
FG Begins Vaccination Against Mpox in FCT, Six States
By Adedapo Adesanya
The Federal Ministry of Health and Social Welfare through the National Primary Health Care Development Agency (NPHCDA) has commenced the vaccination against Monkeypox, now known as Mpox.
Business Post reports that Bayelsa, Rivers, Cross River, Akwa Ibom, Enugu, Benue, and the Federal Capital Territory, were selected as pilot states for the vaccination.
An average of 631 persons are expected to be vaccinated across the seven states with two doses of the Mpox vaccine. A buffer for 50 persons will be kept at the national in case of an upsurge in other states.
NPHCDA in a statement posted on its verified X account confirmed the exercise, stressing that the vaccination will help to protect communities and safeguarding health of the people.
In a related development, according to the latest update by the Nigeria Centre for Disease Control (NCDC), there are 1,442 suspected cases of Mpox from 36 states and the Federal Capital Territory, while the number of confirmed cases of the infection was 118 from 28 states and the FCT.
“To prevent the spread of Mpox, we strongly advise the public to avoid contact with animals that may carry the virus, including sick or dead animals in affected areas, avoid handling materials that have been in contact with infected animals, limit unnecessary physical contact with individuals who are infected, practice frequent handwashing with soap and water, and ensure that animal food products are thoroughly cooked before eating.
“It’s also important to use protective clothing and gloves when handling sick animals or their tissues. Similarly, health workers are advised to follow standard safety protocols including droplet precautions when treating patients, use protective equipment including masks, gloves, and gowns, during patient care, and be vigilant for symptoms of Mpox, especially fever and rash, among other measures.”
Health
AXA Mansard Health Partners LUTH in Blood Donation Drive
By Aduragbemi Omiyale
Over 250 pints of blood have been donated by AXA Mansard Health to the Lagos University Teaching Hospital (LUTH), Idi Araba.
The blood was donated by more than 100 employees of the leading health insurance company in Nigeria through its volunteering programme tagged AXA Hearts in Action.
The initiative is part of the company’s blood donation drive aimed at contributing to positive societal and environmental impacts through employee volunteering, and expertise related financial support and in-kind donations.
According to the Chief Client Officer of AXA Mansard, Ms Rashidat Adebisi, “Through the AHIA, our employees do not just give time to great causes; we work together for a better future.”
“We share our time, knowledge and expertise as a people with a shared purpose of acting for human progress by protecting what matters through initiatives like this,” she added.
Ms Adebisi said the blood drive is a shining example of the philosophy in action, where collective contributions serve as a reminder that true impact often involves giving more than just money. It’s about putting one’s heart in action – an idea embedded in AXA’s corporate culture.
On his part, the chief executive of AXA Mansard Health Limited, Mr Tope Adeniyi, said with hospitals frequently experiencing blood shortages, events like these serve as a lifeline for patients in need.
“We are proud to contribute to the local healthcare sector and provide much-needed support to hospitals such as LUTH, ensuring that they have resources essential to saving lives,” he added.
Also commenting, the Head of Corporate Services and Public Relations at LUTH, Omolola Olubukunola Fakeye, thanked the firm for the “generous support,” which has made a “meaningful difference to our blood bank and ultimately to the lives of patients.”
“Blood donations are invaluable in many critical treatments, and initiatives like AXA Mansard’s blood drive bring immense relief to healthcare system.
“We are sincerely grateful for this partnership and the dedication of AXA Mansard’s employees,” Fakeye stated.
AXA Hearts in Action operates globally, she urging AXA employees everywhere to engage with and give back to their communities.
Through diverse projects – from health initiatives like this blood drive and medical outreaches to environmental efforts like the AXA Week for Good “Trash-to-Treasure” waste management project – AXA staff have opportunities to make a lasting difference on issues that matter.
For AXA Mansard, every act of social service brings them closer to the communities they serve, helping build a world where giving back is not only about charity but about lasting, positive change.
Health
US Buys 4.8 million Swipha Malaria Doses for Nigeria, Others
By Adedapo Adesanya
The US Agency for International Development (USAID) has committed $2.3 million to procure 4.8 million doses of life-saving malaria tablets from Swiss Pharma (Swipha) in a landmark partnership that will expand access to essential medicines in Nigeria and West Africa.
This procurement, to be facilitated through the U.S. Government’s President’s Malaria Initiative (PMI), underscores the United States’ dedication to advancing Nigeria’s healthcare infrastructure and ensuring life-saving treatments reach vulnerable communities.
For years, Nigeria has faced significant challenges in procuring affordable, high-quality medicines due to the high cost of production and the inability of many local pharmaceutical companies to meet international quality standards.
According to the World Health Organization (WHO), fewer than 10 per cent of medicines manufactured in sub-Saharan Africa meet global standards, limiting local companies’ ability to supply essential drugs and meet healthcare needs.
These barriers have particularly affected access to medicines for malaria and child health, as local production has often fallen short of both quality and quantity requirements.
In response, USAID partnered with Swipha in their efforts to attain World Health Organization (WHO) prequalification for sulfadoxine/pyrimethamine (SP) tablets, a vital medicine for malaria prevention during pregnancy.
Swipha is now the first pharmaceutical company in Nigeria and in West Africa to achieve this WHO certification, marking a critical step forward for the region’s pharmaceutical capacity.
“USAID’s support was pivotal in helping us reach this milestone,” said Swipha Managing Director, Mr Frederic Lieutaud.
“The WHO prequalification not only validates our commitment to producing high-quality medicines but also enhances our capacity to scale production and serve both local and international markets with trusted, essential medicines.”
With the WHO prequalification, Swipha is well-positioned to expand its reach, supplying these essential medicines to international donors and procurement agencies, ultimately strengthening healthcare delivery across Nigeria and the broader West African region.
This achievement also represents a significant boost to Nigeria’s healthcare system by enhancing local manufacturing capacity and contributing to public health efforts to combat preventable diseases.
During her visit to Swipha’s facility in Lagos, USAID Mission Director to Nigeria, Ms Melissa Jones, commented “This achievement is a testament to the power of collaboration in improving healthcare in Nigeria.
“We are proud to have supported Swipha in reaching this milestone and look forward to continuing our partnership to ensure more quality medicines reach those who need them most. Together, we are building a healthier future for Nigeria.”
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