Inflation: A Real-Number Comparison for Our Tribal Communities

Inflation is like a silent storm, slowly taking away our buying power. Our Indigenous communities must grasp this, especially when we see the numbers.

Think of it this way: if you bought a loaf of bread for $1.55 in 2021, that same loaf costs $2.01 today on March 14, 2024. That’s not just numbers changing; it’s more money coming out of your pocket for the same bread!

Our families managed resources wisely, ensuring survival and prosperity. In the face of inflation, a modern challenge now impacts how much food, gas, and essentials we can get with our money. 

Housing and gasoline costs were the biggest drivers of inflation last month, accounting for 60% of the monthly increase. Imagine getting gas for a trip into town for groceries for your family—each dollar adds up, making it harder to provide. Today’s dollar only buys 86.957% of what it could buy back then.

Our history teaches us resilience and resourcefulness. Now, we must apply these lessons to navigate the rising costs. Understanding these price changes empowers us to make informed decisions, helping our families and communities adapt.

Let’s educate our children about these economic challenges alongside our traditions and histories. By understanding inflation, we can better safeguard our resources and future.

President Biden and like-minded lawmakers’ extensive government spending are key drivers of persistent inflation. This government spending leads to higher prices when there are not enough goods to match the money people have, exacerbating inflation. The Biden Administration’s fiscal policies hinder the Federal Reserve from lowering interest rates, which would otherwise make loans more affordable and stimulate economic growth. 

We, as Native people, must be vigilant and proactive. Recognizing and responding to inflation’s impact is crucial for our community’s well-being. Let’s honor our past by securing our financial future and ensuring our tribes thrive amidst these economic shifts.