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Impact of Inflation on Students' Lives

1) The foreign study document discusses different perspectives on inflation from various authors, identifying it as a global issue that disproportionately impacts marginalized groups. 2) It explains the differences between demand-pull inflation, caused by increased aggregate supply, and cost-push inflation, related to increased production costs experienced by firms. 3) Inflation leads to social and economic instability and is an important variable that has been extensively studied theoretically and empirically.

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ALYANA ELISHA PERLAS
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683 views1 page

Impact of Inflation on Students' Lives

1) The foreign study document discusses different perspectives on inflation from various authors, identifying it as a global issue that disproportionately impacts marginalized groups. 2) It explains the differences between demand-pull inflation, caused by increased aggregate supply, and cost-push inflation, related to increased production costs experienced by firms. 3) Inflation leads to social and economic instability and is an important variable that has been extensively studied theoretically and empirically.

Uploaded by

ALYANA ELISHA PERLAS
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Foreign Study

Carlos (2009), in his study indicated that inflation is a global issue of concern because larger proportion
of the population have been affected, while marginalized sectors are comparatively more affected
where a lerger portion of their income is destined towards purchasing food items. Haq, (2008).
However, Sloman and kevin (2007), explain that inflation may either be Demand-Pull inflation or Cost-
Push inflation. Demand-Pull inflation is a type of inflation caused by persistent increase in aggregate
supple, thus the firms respond by raising prices and increasing their output. While cost-Push inflation on
the other hand, is related to persistent increase in costs experienced by firms in the production of goods
and rendering of services. Inflation is one of the most crucial factors leading to social and economic
instability and disorders in an economy. It is one of the frequent and largely observed and tested
variable both theoretically and empirically, Zou, et Al. (2011). Economics (2010), inflation also creates
uncertainties; students who do not know what the money they can earn today will buy tomorrow? This
discouraged saving, productive activities and investment. Many of these challenges have crippled, and
still are being faced by Nigerian Country. This study therefore, focuses on finding the impact of inflation
on standard of living of Public School.

Local Study

According to the Philippine Statistics Authority (PSA), the country’s inflation rate rose from 6.4% in
August to 6.7% in September 2018 which is the highest in over 9 years and also the 9 th consecutive
monthly inflation rate increase starting from January 2018. Students, the most vulnerable sectors in our
society, shoulder the effects. The rising prices of commodities like food and now, school supplies,
directly hurt children. The usual P10 to P20 allowance of a pupil coming from a family with an average
income of P512 a day will become almost useless. Previously, students could still afford to buy cupcakes
and tetra packed juice to survive a whole day of class. It might be a different scenario as they return to
school this month. Their daily allowance might not even compensate the cost of transportation as
transport groups demand fare hikes due to soaring fuel costs. Parents express alarm over the impact of
the 4.5 percent inflation rate – which is the highest in the last five years – to the prices of school supplies
and student meals due to the implementation of the Tax Reform for Acceleration and Inclusion Law
(TRAIN) law. The inflation is causing a price shock among students returning to school.

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