Inflation

Steven Aspera, News Editor

Notice any change at the gas pumps? Is your coffee costing more? Crackseed candy costing more?

It’s not your imagination. Prices are rising. Inflation is roaring back, for the first time since the financial crisis of 2008.

“Certain services and goods are costing more, due to fuel costs or supply chain issues,” senior Ian Nakashima said.

With high gas prices and other amenities, which are increasing due to inflation, a high cost of living state such as Hawaii has felt the impact of inflation as much as any other mainland state.

“I’ve seen the rising prices in protein bars and chicken, which I get regularly. I also see them on different snacks and drinks when I go shopping. Also, since I mainly pay with cash, it makes it harder for me to keep track of my change and it’s just overall tough on my wallet,” said senior Finn Curren.

The inflation rate of today in the United States is currently 8.5% higher than usual spending, with the all-time high reaching 9.1% in June of this year, according to Statista,

We could see the effects of inflation begin to take shape as far back as the COVID-19 Economic Relief Program, in which the U.S. Department of the Treasury distributed 350 Billion dollars to American taxpayers.

This, in turn, caused many supply chain issues in the American market. With their newfound money, many Americans increased their spending budget, ultimately causing businesses to increase their prices to keep up with supply and demand.

Another more infamous factor that’s manipulating inflation is the ongoing Ukraine-Russia war.
With addition to oil and fuel exports, Ukraine’s wheat supply has also been affected by the war, and so have you.

Ukraine is one of the largest wheat producers in the world. With their attention focused on the war, Ukraine cannot effectively distribute wheat, which caused many grocery items to skyrocket in price.

Higher fuel costs and what not, and grain exports have been disrupted because of Ukraine. But inflation was already rising before that. It’s that now the effects have been amplified.

— Ian Nakashima

“Higher fuel costs and what not, and grain exports have been disrupted because of Ukraine. But inflation was already rising before that. It’s that now the effects have been amplified,” Nakashima said.

With the peak of fuel and gas costs reaching an all-time high a few months ago, many students hope that the decrease in fuel prices will ultimately improve their daily spending.

“Ultimately, lower gas prices will benefit me greatly. Besides the obvious, it will help me keep better track of my change, in addition to other prices decreasing,” Curren said.