many friends of mine serve God in Europe…
one of my friends and I just had an email conversation about the effect of the falling dollar on their lives…
in their country (Hungary) the cost of energy has gone up 20% in the last year… the cost of food has gone up 17% in the past year…
the dollar has gone from 221 Forints in July of 06 to 172 Forints yesterday…
so
if a loaf of bread cost 200 Forints in 2006, that’s 91 cents…
then that same loaf cost 234 Forints in 2007…
at the new exchange rate its $1.36
so for these friends, his hypothetical loaf of bread went from $.91 to $1.36 in a year…
if I am calculating correctly, that is a net 49% cost increase combining their inflation and the falling dollar over the course of 16 months…
wow…
my sources – Hungary Economic data & USD – HUF
kingdom travelin' 