What is the difference between my and local in Perl?

I am seeing both of them used in this script I am trying to debug and the literature is just not clear. Can someone demystify this for me?

Dynamic Scoping. It is a neat concept. Many people don't use it, or understand it.

Basically think of my as creating and anchoring a variable to one block of {}, A.K.A. scope.

my $foo if (true); # $foo lives and dies within the if statement.

So a my variable is what you are used to. whereas with dynamic scoping $var can be declared anywhere and used anywhere. So with local you basically suspend the use of that global variable, and use a "local value" to work with it. So local creates a temporary scope for a temporary variable.

$var = 4;
print $var, "\n";
&hello;
print $var, "\n";

# subroutines
sub hello {
     local $var = 10;
     print $var, "\n";
     &gogo; # calling subroutine gogo
     print $var, "\n";
}
sub gogo {
     $var ++;
}

This should print:

4
10
11
4