'Inflation can damage not only your wallet but also your mental health,' experts claim.



Inflation is spreading worldwide as consumer spending picks up, which had been sluggish due to the corona wreck. Experts argue that inflation has a new impact on individuals, 'inflation exacerbates economic inequality and further worsens the mental health of low-income earners.'

Inflation could hit your mental health as much as your wallet, psychologists say | Live Science
https://www.livescience.com/inflation-mental-health-impact

Global inflation has continued since the end of 2021, and especially in the United States, the consumer price index reached '7% year-on-year increase' in December 2022, breaking the record for the first time in 39 years. This phenomenon is the same in the United Kingdom, where the consumer price index in December 2021 increased by 5.4% from the previous year . Inflation in 2022 is even expected to exceed 7%.

Lisa Strohschein, a sociologist at the University of Alberta, Canada, points out the psychological impact of continuing inflation around the world. 'Pandemic has made people at the lowest levels more unstable than ever,' said Straushine, an expert on the stresses and family relationships created by financial causes. increase.

You may be familiar with the claim that 'inflation is having a negative impact on people's lives,' but Strawshine says, 'even if inflation goes on, economic and mental problems will not necessarily increase. There is no such thing. ' This is because whether or not inflation actually has a negative impact on people's lives depends largely on economic factors other than inflation, just as if salaries rise at a pace that exceeds inflation, life will improve. However, before this inflation, the global epidemic of the new coronavirus continued for a long time, and inflation was the last push when stress had reached a critical point due to the coronavirus, Strawshine argues. ..



As the British letter The Guardian reported in February 2022 that 'wage growth has not kept pace with inflation,' there have been

reports that workers' living conditions have deteriorated due to this inflation. I am. According to a survey released by The Washington Post in February 2022, low-income earners are suffering from soaring rents, groceries and daily necessities amid sustained inflation, but various investments have helped inflation. It is clear that the wealthy are rather enjoying the benefits of riding the booming wave.

It has also been pointed out that the working age, which has a high proportion of workers, is the victim of this inflation. A study published by San Diego State University psychologist Jean Twinge found that during the 2020 pandemic crisis, mental health was hit hardest by the age group of 18-44, while it hit hardest. The age group that did not receive it was the elderly over 60 years old. The reason behind the findings is that Twinge speculates that 'younger people are more likely to be affected by business closures and job losses.'



The mental health crisis of young people is also pointed out by Mr. Strawshine. A study of the recession created by the Lehman shock in 2008 found that the millennial generation (born 1980-1994), who were college students during the recession, were delayed in getting married or buying a home due to student loan repayments and high unemployment. Is shown. Many universities have taken measures to prevent the spread of infection in the corona sickness, and this inflationary recession has occurred while the opportunities for social exchange and career development that had existed so far have been lost from university life. 'Many young people feel despair rather than anxiety about their future,' said Strawshine.

in Note, Posted by darkhorse_log