Rise In Price

Price rise is a world phenomenon today and inflation is affecting every section (rich and poor) of society. About three decades ago we could purchase wheat at thirty taka/rupees a quintal, but today we cannot get it at less than three hundred takas/rupees a quintal in big cities. The price of essential commodities goes up when there is more money in circulation in corresponding with the supply of articles and services. Thus broadly speaking, it is due to inflationary pressure. Rich men may have a mania for making more money but the poor people, as Oscar Wilde has said, think only of money. So when prices of essential commodities rise, it is the common people that are more affected. They have less purchasing power. So the phenomenon of inflation makes the poor poorer but the rich became richer as they get more money. As price index goes up, salaries of office employees go up or suitable dearness allowances are granted to cope with the market. In the meantime, prices go further up as more money has come into the market. In this way, a vicious circle is created. But the impact is felt pinchingly by the common people as essential commodities go beyond their reach. Indeed, commodity prices are generally linked with the staple article. If the price of rice, flour (wheat) or potato goes up, then that will push the prices of other articles further up.

The government should impose taxes on hoarders and rich people. Production of agricultural goods should be increased along with industrial goods. Their prices should be fixed. The government should undertake a big scheme of rationing in cities and villages Cheap clothes should be produced and essential items be distributed through government shops. Corruption must be ended at all levels. Corruption adds to the problem of prices. Bribing is common in most government offices and this leads to the rise in the prices of goods. For example, a job that can be done by paying a small amount needs more money because some officials would not do it till they get extra money for it. This leads to an imbalance in the market and often prices don’t remain fixed and lead to an addition to the burden on the common man.

For common people, nutritious food articles are often forbidden. Fish markets are now scarcing. The authorities are often helpless in holding the price line, due to the machinations of vested interests. The Govt. expenses have to be curtailed ruthlessly and imports to be liberalized. The best remedial measure for common people is to organize consumers’ resistance movement and to check corruption. Common buyers would be politely and with cogent arguments persuaded and prevailed upon not to buy certain commodities till prices are brought down reasonably.