Price Hike
[4th, 8th NTRCA, 2008, 2012]
Price hikes in Bangladesh have become a persistent and concerning issue affecting daily lives. The country has witnessed a steady increase in costs for essential goods and services. The unchecked price hike has placed a significant burden on the average household. The main reason for price hikes in developing countries is corrupted businessmen. They syndicate in the market by stocking goods, creating an artificial food supply crisis. Naturally, its price increases when there is not enough of something, like food or oil. Additionally, natural disasters like cyclones and flooding often result in crop damage and decreased production, contributing to food price inflation. The consequences of price hikes are far-reaching. It excessively affects the poor and lower-income segments of the population. Price hikes push the poor further into poverty. Many families struggle to put food on the table, and necessities like housing, education, and healthcare become increasingly unaffordable. Efforts to combat price hikes in Bangladesh require a multifaceted approach. The Government should take both immediate and long-term steps to reduce price hikes. Any syndicates of the businessmen are to be suppressed boldly, and money inflation should be controlled. The agricultural sector should be given priority in the annual budget. At the same time, public awareness should also be raised against price-hike.
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