In this data analysis activity, students will analyze a line graph displaying the price increases of ten products from 1997 to 2022, driven by inflationary forces. This engaging visual representation will provide them with a historical perspective on how inflation impacts consumer prices over time.
Students will be asked a series of review questions to understand why the budget should be adjusted every year to take inflation into account. This will be followed by a research question to write down five products whose prices changed from last year to this year due to inflation.
Students will gain a comprehensive understanding of the effects of inflation on consumer prices and its implications for budgeting.