INFLATION

By Lillian Byrne

As of 2023, inflation has overall gone up a lot! People around us are constantly talking about outrageous gas prices or even just things like the  prices of eggs at the grocery store. People all over the world are getting more and more upset about inflation, but nothing’s  truly being done about it?

President Biden explained in the State of the Union that inflation would be going down, but is that really true? Well since the beginning of 2022, according to https://www.forbes.com , The Russell 1000 growth Index has gone down 26.3%, but the Russell 1000 value index has only gone down 12.9% however Inflation is still going down, but only in some departments of our daily lives. 

Food prices have gone up 7.8 percent, however the energy index fell 2.7% after rising 0.9% in January. Since president Biden has taken office, inflation has increased 14.4% and average mortgage payment has gone up 28%. And on top this, interest rates have increased more than they have in the past 15 years combined. 

In order to help solve the problem of inflation, we would need to control the money supply in the economy. (according to https://www.forbes.com) the result of money supply going down or being stable would result in a price fall. Currently, the money supply is increasing, which means that the price and demand of goods has gone up. 

How does this affect you? Many students go to stores such as 7-11 before and after school but most students find that the prices are insane. This could be because 7-11 and many other stores like it have doubled the prices of popular items they sell due to rising inflation. Many of the store's customers are students from MS890 since the store is right next to the school. However, many students aren’t able to buy more than 2-3  things with the little money they have. 

Sixth grade student, Amishna Gurung, thinks the prices at 7-11 are way too high and says that a few chicken wings at the store cost $17, which is a lot more than it should be! Many students agree that the prices there and many other stores are very high and they aren't able to purchase much with the money they have and receive.