price hike

Price hike / Price Spiral 

The unusual rising in prices of daily essential commodities can be defined as price hike. At present it is a common phenomenon in Bangladesh. Many reasons are responsible behind price hike. Rapid growth of population, hoarding, black market, market syndicate, natural disasters, limited cultivable lands, shortage of commodities supply, money inflation, political turmoil etc. are the most common in them. Besides, most often some dishonest and greedy businessmen create an artificial crisis in the market to make illegal profit. Consequently, there occurs price hike. The effects of price spiral are beggar description. Mainly the poor and the middle class people are the worst suffer for it. Govt. should take some effective steps such as creating monitoring cell, keeping strong to import product in crisis condition, motivating farmers to grow hi-breed crops etc. Again, the law enforcement agencies should take punitive action against the greedy businessmen and black marketers. Mass media can also play a vital role to reduce this issue.