Current Economic Situation in Ukraine

No coffee.

No flour.

No bags of sugar (just a few boxes of sugar cubes- I did buy a couple).

This guy was filling his cart with sunflower oil.

When we first moved to Ukraine three years ago, the exchange rate was 1 US Dollar (USD) = 8 Ukrainian Hryvnia (UAH). It had stayed steady at that amount (give or take some cents) up until several months ago.
In October of last year, it was about 12-13 UAH to 1 USD.
November through December: 14-15 UAH to 1 USD. And it kept ever so slowly rising (along with the prices of everything).

Friday, the 6th of February 1 USD = 16 UAH

Saturday, the 7th of February 1 USD = 25.2457 UAH

In just 24 hours, the hryvnia rose by almost 10! Can you believe that!
Not only that, but check out this equation that makes no sense:

Decreasing value of the hryvnia + Increasing prices = No change in people's paycheck/pension check

So basically, the price of everything here is increasing, but people are still making the same amount of hryvnia that they did prior to the increases. I don't know how most Ukrainians will survive on this current system, especially pensioners who were struggling when the rate was 8 UAH to 1 USD!!!

Hence, the photos above: people are stocking up on basic supplies before the prices go up even more.
I went to buy some sugar yesterday and I was surprised that there was none available at the store closest to us. I thought it was strange, but sometimes it happens. Today, I casually mentioned to Mike that Silpo (name of the store) had no sugar and maybe he could check today and see if they had re-stocked the shelves. He said that he had heard there was no sugar, or flour, available in any stores because people were buying it all up before the prices rose again. He went there and sure enough, no sugar, flour or buckwheat.
I decided to go out later to another store a little further from our apartment to find some sugar (we bake a lot :) ). This is where I took these pictures. It was so strange. The store was packed with people and they were filling up their carts and baskets with as many basic items as they could. So many people were on cell phones, calling people and telling them what was, or was not available, at this store.

It reminded me of the day before a snow storm in New York- people stocking up on items because they might not be able to leave their home for a few days.

This was different though, people stocking up on items because they might not be able to afford them in a few days.

Crazy.