Why Is Everything So Expensive??
Why Is Everything So Expensive?
Lesduur is: 15 minIntroductie
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Why Is Everything So Expensive?
Yes
No
A little
Do you think everything has become more expensive?
What do you feel has become
more expensive?
How do you feel about this news story?
Lesson Objectives
Explain two or more causes of rising prices
Describe how rising prices affect individuals and families
Why is this happening?
What?
Energy costs are rising - inflation in the UK has seen a 3.3% increase.
Where?
War in the Middle East is restricting the export of oil as Iran and America are blockading the Straits of Hormuz
Who?
This affects the costs of transporting goods around the world and ultimately locally. Oil prices are globally linked no matter where it is bought from.
Background
The UK faces rising living costs, with essential items like food, energy, and transport becoming more expensive. This is called inflation, where general prices increase over time.
Although inflation had slowed, it recently rose again due to higher energy costs and global issues like Middle East tensions affecting fuel prices. This makes it challenging for households to manage finances, highlighting its importance for discussion.
Students
Families
Businesses
Government
What does this mean for?
A family’s weekly shop rises from £80 to £95. What might they do?
Yes
No
Not sure
Is the government doing enough?
The Bigger Picture
Inflation affects interest rates
Interest rates affect mortgages and borrowing
Governments
Businesses
Global conflict
Consumers
Who is responsible for rising prices?
How do rising prices affect your future?
Key Concepts
Inflation
The rate at which prices for goods and services increase over time, meaning money buys less than before.
Cost of Living
The amount of money needed to cover basic expenses such as food, housing, energy, and transport.
Energy Prices
The cost of gas, electricity, and fuel, which can rise due to supply issues or global events such as tensions in the Middle East.
Interest Rates
The percentage charged when borrowing money (or earned when saving), which can be increased to help control inflation.
Cost of Living
The amount of money needed to cover basic expenses such as food, housing, energy, and transport.
Energy Prices
The cost of gas, electricity, and fuel, which can rise due to supply issues or global events such as tensions in the Middle East.
Interest Rates
The percentage charged when borrowing money (or earned when saving), which can be increased to help control inflation.
What question do you have about this news?
News Focus lessons - short lessons on current events
