Inflation and its effect on teens

Inflation has been a popular topic among many Americans as of late due to the insane gas prices, along with an increase in generally all products; however, these prices don’t just affect adults.

Last year, the global inflation rate was 8.8% and the International Monetary Fund is forecasting a 6.6% global rate for 2023.  

Food items at both elementary and secondary schools, fuel oil and motor fuel, and many food items have all been some of the things to be hit the hardest by inflation prices, all of which highly affect high school students.

School meals were originally free after the pandemic for everyone regardless of income, however, according to the latest Consumer Price Index data, after that program ended in September, school meals have spiked in price by 305%.

Concerns about the supply of crude oil and fuel also rose after Russia’s invasion of Ukraine, and consequently the prices of fuel oil and other fuels such as diesel ended the year up 41.5% and 32.3% respectively.

Senior Evan Davis said, “Inflation has impacted my life the greatest through gas prices,” and this seemed to be the collective agreement among students interviewed.

Junior Jackson Bolinger said, “It takes over 80 dollars to fill my tank! I make at most 20 dollars a week!”

The effect of high gas prices majorly affects teens as they are preparing for college and trying to save money; however, lots of that money must go to transportation for extracurricular activities.

Davis stated, “As a teenager working a part time job, I get paid only a couple hundred dollars every paycheck. I try my hardest to put a portion of this money aside for use through college, but I have been unable to save any money as of late because I have been spending a majority of my income on transportation instead.”

Many teens have yet to get their licenses, so the elevated gas prices may not necessarily affect them, however the rise in prices for food items, especially school lunches, certainly have an impact.

Inflation may seem like an adult topic that only affects those who are above the age of 18, although regardless of age and income it does affect everyone.