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Inflation is defined by Oxford Languages as “a general increase in prices and fall in the purchasing value of money.” It is a vital term used everyday within the world of economics.
Covid-19 hit the world hard, worse than some people originally expected. Some thought it “just another common cold” or “this will pass over in a month or so”…think again!
My personal experience with Covid- 19 has been interesting. I started school the summer that Covid-19 hit. I never imagined a world where I would not actually go to campus for my classes, that just seemed unfathomable to a newly eager college student.
I received the academic side of school but what I felt like I lacked was the whole college experience, going to soccer games, joining clubs or even just meeting other people. We couldn’t go on campus for our safety, and I can appreciate that, but it doesn’t change the fact that part of my college experience is missing.
Not only are we going to school during a global pandemic, but during an economic crisis. Did you drive to school, if you did how much did it take to fill up your tank? I have an SUV, and it took almost $40 or $50 to fill up. I work in Madison also so I fill up every week, if not every couple of days, due to not living in Madison.
I bet it was hard to pay for tuition during that time. No one was working so how could we pay for tuition? Depending on how many classes you take and if rental book are included in the cost of the class, you could be looking at a grand or more in costs for classes and books.
Another impact of inflation can be grade deflation. People are getting sick, worried about how they are going to feed their families or even keep a roof over their heads, and that causes stress, which in turn makes grades suffer.
Inflation still impacts our lives today. The gas prices where I am living just increased 15 cents from yesterday. I am going to buy groceries for the week later today. I always get the same items including green peppers. Last time I was there, the peppers were $2.45 cents a pound! Before the pandemic, I could get green peppers for $1 a pound. Do I need to take us back to the whole toilet paper raid within all grocery stores where for weeks people were buying out toilet paper and since the demand was so high the inflation on it went up as well.
Inflation will always be with us, it is just the way our society is now a days. We are in a global pandemic, times will be tough but I feel as if we will come out even stronger in the end.