Some companies are doing this already, but for Canadian residents at least it looks like the price of goods and services are slowly creeping back to the way they were a few months ago before the Canadian dollar was higher than the US dollar. For many products I already see some places raising the prices by like $10 to adjust to the current currency exchange rates.
This can be a good or bad thing depending on how you look at it. Obviously from a consumer point of view that means we are going to have to spend more for certain items. For opportunists, I suppose if you are stocking up on certain items you can not only save some money, but you can probably resell them for cheaper than retail prices as well afterwards by buying things now and still make a profit on it.
For myself, most of the items that are going up are non necessities anyways. So in that sense, my attitude has always been simply that I have to find a way to earn more if I really want it that bad. It is simply adapting to the situation.
Usually when something goes up something else comes down as well. In this case, Iâ€™m sure people will be pickier about what they spend their money on and as result many prices will come down in various industries as well. The travel and hotel industry is a great example. With that thought, you may be spending the same overall when you think about it.
If you are a real risk taker, times like these usually means there is less competition or people willing to spend their hard earned dollars. So if you are investing or trying out new ideas it can be a great time to do so with less saturation out there. Itâ€™s all what you make out of a situation.