When Everything Costs More; The New Economic Reality? By: Daniella Andreacci With inflation rising, is just a paycheck enough?

Inflation happens when prices go up over time, which means your money buys less than it’s used too. This means that most things such as gas, food, rent, clothes go up in price. For example, when the demand for something rises faster than the supply, inflation often follows. So, what is inflation and how it can affect you?. You may not see the effect of inflation personally but it affects millions of people around the world and causes more problems than solutions. 

I talked with Miss Younger, a history teacher at BHS, who is very knowledgeable about inflation, as well as the effects of inflation, and who inflation affects the most. “Many single family households are affected by inflation the most because if you have two parents, obviously, you have two incomes coming in. But if you have one parent, that parent now has to make a choice with the rise of inflation, where should I spend my money? Should I go towards rent? Should I go towards food? And what typically goes to the wayside? Hobbies, and hobbies are a fundamental part of society, if you want to keep your workers happy, you have to have a good blend of work and home life”.  She goes on to share how the system in which we live sets up minority families to be the most affected by inflation. She also explains that although inflation is going up, the minimum wage for workers has stayed the same, causing the amount of income workers are receiving to not match the increasing inflation prices. 

Does this image represent how most people feel about the cost of living? This image represents many families who are struggling with inflation.

As we continued to talk, Miss Younger shared how inflation and the natural cost of living go hand and hand, and both affect someone's ability to have basic necessities. She explains inflation and the cost of living go together. “ If inflation goes up, then your natural cost of living is going to go up. So let's say there's a tariff on potatoes. And you have to pay 15% more for potatoes. They're going to add that to what the customer pays. It's going to make your cost of living go up. So inflation will always make the cost of living go up as well, because it affects most things, most items within our society, and for the most part, it impacts lower income families the most, and it also impacts minorities the most. and single parent households”. 

As we were wrapping up the interview, I asked her what she feels the biggest causes of inflation are. “ I would argue that tariffs are a large increase in the current economy because they're new under the Trump administration and we are already seeing declines in that specific area. So tariffs affect the United States because the United States is the one who is paying for that, but some people think that the other country is paying for those items, but that's not how it works. Inflation is just natural. We have, I forget which specific area of the government it is, but they control inflation and they do rate changes and inflation changes all the time, but right now it's difficult, especially because of the tariffs”.