From vending machine snacks to Wolfpack swag to everyday items, the recent rise in inflation is leaving the pockets of Boston Latin School students a little lighter than usual.

Recently, Americans have experienced inflation, or the increase in prices of everyday products. This phenomenon is largely due to the ongoing war in Ukraine and the COVID-19 pandemic. Both events have induced massive labor shortages and significant global supply chain issues. At the same time, there is an ever-greater demand from consumers, as the population has gradually emerged from restrictions imposed by COVID-19. 

In response, the Federal Reserve System has raised interest rates several times, attempting to curb the impacts of inflation. Higher interest rates make it more difficult for people to borrow money; thus, people become more reluctant to spend large amounts of money. Once spending decreases, the consumer demand will lower as well. Eventually, prices will decrease as well, thus reducing inflation.

BLS AP Economics teacher Ms. Ashley Balbian, however, remarks, “You could say that the Federal Reserve isn’t doing that good of a job. One of the only tools they have is to raise interest rates, which they’ve been doing every time they meet.”

Here’s how the recent increase in inflation has impacted BLS students.