Price hike or price spiral- Composition
Price hike or price spiral
Price hike or price spiral is the unusual rising of prices of essential commodities. It is a burning issue of the present time. The prices of daily necessaries like rice, pulse, edible oil, potato, vegetables, milk powder, meat, fish, onion, garlic, baby food are going high day by day in such a motion that they have already gone beyond the reach of the poor and middle class family. Due to price hike, their income cannot suffice with the demand of their daily expenses.
There are many reasons behind price hike that causes unbearable agony to the life of common people. Some of them are production-related and some of them are related to the business with the products.
Sometimes production of commodities run short in the market due to increasing demand of ever-growing population, less production of agricultural products for natural disaster like cyclone, flood, drought etc. This deficiency in production of necessary things causes price hike.
The dishonest businessmen and hoarder stock daily necessary things for a long time to let the rate of them increase in the market so that they can draw quick profit out of it and become rich overnight. They maintain an evil syndicate which works unitedly until there occurs shortage of supply of products in the market and prices rise up. Their tricks are so subtle that even government can do nothing sometimes. Moreover scarcity of targeted import and increase of prices of things in the international market are also responsible for price hike.
Due to price hike, the poor, the middle class family, ill-paid workers and bounden wage earners all suffer terribly. Many cannot maintain their household; many keep body and soul together. Many families failing to fulfill the demand of their children even their tuition fee lead a miserable life. To keep pace with the expenditure of very essential things, many families remain deprived of the other basic necessaries like clothing, education and medical care.
To mitigate the suffering of common people, government should strive to control price hike. Law regarding price hike should be implemented strictly. Arrested criminals should be given exemplary punishment. Furthermore, government should continue market monitoring so that unusual situation cannot affect market price. If commodity shortage occurs due to natural cause, they should fulfill this by importing as soon as possible.
In this way it is likely that people will get rid of painful experience of price hike. Last of all, we should raise our voice against the few criminals who, for their narrow interest, lay the heavy burden of over-price upon the whole nation.