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🔋 3x Battery Price Drop. 30% Illiteracy. Suicide on Rise.

Chart of the Day #41 looks at Lithium-ion Battery Prices, Illiteracy Rates, and Youth Suicide Rates

Namaskar 🏔️

African Union declares 2024 as the 'Year of Education' and pledges support for African States in achieving universal primary and secondary education. A study by the University of California reveals a correlation between enhanced air quality and a decrease in suicide rates.

Today's Topics

  • 🖍️ Illiteracy Rates. 32% illiteracy rates in Sub-Saharan Africa
  • 🔋 Lithium-ion Batteries. 3x Decline in Lithium-ion battery prices
  • 😔 Suicide Rates. 36% rise in suicide rates in 20–24 year olds

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🖋️ 32% Illiteracy Rates in Sub-Saharan Africa

Sub-Saharan Africa had the highest illiteracy rate of 32.3% in 2022 globally, primarily driven by widespread poverty, leading to the prioritization of survival over education. Additionally, limited access to schooling and increased child labor participation in farming were also reasons for high illiteracy. South Asia also faces high illiteracy, with a rate of 25.8% stemming from limited access to and unaffordability of education, compounded by cultural restrictions, particularly affecting females.

Prolonged periods of conflict and political instability in parts of the Middle East have led to an overall illiteracy rate of 19.6% in the region. Persistent gender disparities in education, influenced by cultural norms, societal expectations, and legal restrictions, also play a part. In contrast, the West shows low illiteracy rates as a result of increased access to education, better income, and affordability, along with a stable economy.

🔋 3x Decline in Lithium-ion Battery Prices

Lithium-ion battery prices have experienced a significant downward trajectory, witnessing an impressive 82% decline over the past decade. This notable trend can be primarily attributed to increased investments in refining and mining processes with advanced technology, resulting in a substantial reduction in the costs associated with raw materials and components. Furthermore, the expanding sales and production volume of electric vehicles have also played a pivotal role in driving down lithium-ion battery prices.

However, a more recent temporary development indicates that the decrease in battery prices is not solely a consequence of increased electric vehicle sales. Rather, an oversupply of batteries stemming from underperforming EV sales leads to lower lithium-ion battery prices.

😔 36% Rise in Suicide Rates in 20–24 Year Olds

The escalation of suicide rates in the US spans various age groups, notably peaking among individuals aged 20–24. Many factors are often attributed to the rise in suicide, including economic pressures, specifically mounting student debt and the rising cost of living, which may result in a very high level of stress for individuals.

Moreover, persistent issues such as bullying take a heavy toll on students' emotional well-being, fostering a sense of isolation and inadequacy. Despite social media's positive role in connectivity, its extensive use contributes to problems like cyberbullying, social isolation, and unrealistic social comparisons, further increasing the risk of suicide. Additionally, the absence of family and parental support surfaces as another influential factor amplifying suicide rates across different age brackets.

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