Read here short, long easy Paragraph on topic price hike and know the effects and reasons of increasing in prices of essential commodities in India and Bangladesh.
what is price hike?
When the cost of living increases compared to income, inflation rises. Getting a little something for more money is also called inflation in economics and price hike. It is observed that price of almost all essential daily use commodities are increasing day by day on heavy rate.
Read 100, 150, 200 words Brief Paragraph About Price Hike For SSC class students
Price spiral refers to the rise in commodity prices relative to income. Increasing the prices of daily use commodities can’t be meet with income or increasing ratio of Increases in salaries. the language of economics, it is defined as having a very small amount of goods compared to a very large amount of money. Inflation is on the rise and food prices are skyrocketing. And the public seems to be commenting on it from their own point of view.
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Reasons of price hike or inflation
The rupee is depreciating against the dollar. In such COVID-19 affecting season, it is hard to say the prices of daily usage things might be in control. Numerous taxes are also causing prices to rise. Hoarding, illegal black marketing and disruption of supply also lead to inflation.
Unsustainable foreign borrowings also weaken economies. In this situation life has become so hard. People’s sources of income have already been halved due to the negative effects of the corona virus.
Effects of price hike
- Rising inflation or price hike is causing a lot of problems today. Essentials are becoming out of reach of the masses. Whether it is CNG or food, the present government made many promises before the elections which it could not fulfil.
- Inflation is rising and salaries of lower grade employee and labors are stagnant. Which is causing problems to the people. If everything continues like this, it will not be the case that the poor people will go on hunger strike and the situation will get worse.
- Rising fees of private hospitals, doctors and schools and expensive medicines are also a major source of inflation. The price of tomatoes skyrocketed. Prices of wheat, rice, pulses and even medicines have gone beyond the reach of the common man.
- Rising petrol, gas and electricity prices pushed up commodity prices further. The bakers raised the price of bread, the price of fruit also went up. This year, the prices of flour have gone up by 50 to 60 per cent, sugar by 20 to 30 per cent, pulses by 25 to 40 per cent, cooking oil, meat, milk and rice by 10 per cent. The consumer price index that sets up consumer goods is called CPI Basket, according to which a Pakistani citizen spends 34.58 per cent on food, 26.68 per cent on house rent, electricity, gas, water and 8.6 per cent on clothes and shoes. It spends 7% on hotel, 6% on transport fares, 3.8% on education and 2.7% on health.
Everyone is fed up with the rising cost of living. The poor have run out of money. Their income is not as much as their expenses. The government should take some appropriate steps to curb rising inflation or price hike so that the poor can live a good life because in the mill of rising inflation, most of the poor are the poorest.
3+ Short Paragraphs On Topic Price Hike
1# – In 100 Words
The price hike is a common part of inflation in many countries, both developed and developing. It usually happens because there are more people competing for a limited supply of goods, causing prices to rise.
There are several reasons why prices can go up. One of the biggest causes is if a company raises the price of their product because they want to make more money. This is one of the main reasons why prices go up in general, because there are more people who want to buy something that they can’t get.
For example, if you have a lot of people wanting a certain kind of food item or service, it’s probably going to cost more because there is competition on the market. Another way that prices can go up is if there’s a shortage of something, so companies have to raise prices to make more money.
For example, if there isn’t enough wheat in the world, then companies have to pay more for it to get enough wheat supplies for everyone else. If someone wants it but can’t afford it, then they might start cutting back on their own food or other things that they need. Prices will also go up because production costs go up when demand goes up for a product or service that needs to be made in large quantities. These are just some of the ways that prices can rise.
2# – In 150 Words For SSC Students
The price hike is one of the most disturbing phenomena in markets today. While there is no easy way to solve the problem, it’s important to be aware of the potential impact that high prices can have on consumers.
As consumers, we are unlikely to remain passive as prices are hiked up. We will take action, either by buying less or looking for a better deal elsewhere. If these actions occur en massive, it can lead to a decline in demand and a decrease in sales.
This can have a domino effect that eventually hits the bottom line for companies. In some cases, this may result in fewer jobs or lower wages for employees, which could lead to further issues down the road.
So it’s worth being mindful of when you see higher-than-average prices at the grocery store or other retailers. It’s also important to keep an eye out for signs that indicate a supply shortage, such as empty shelves and long wait times at checkout counters.
3# – in 200 Words For Class 9
The rising prices of commodities are a common occurrence in today’s economy. However, if you are looking to buy your home, you might be concerned about the potential impact that high prices can have on your bottom line.
The good news is that there are a number of things you can do to protect yourself from price hikes.
1. First, try to avoid buying a house that is more expensive than you can afford.
2. Second, make sure to shop around and compare several different listings before finalizing a purchase.
3. Third, be prepared for any potential price hikes by keeping an eye out for signs that prices are increasing.
And finally, don’t let the current market conditions discourage you from buying a home because you think it will be too expensive in the future. It’s important to remember that property values can always go up or down over time so there is never a perfect time to make a purchase.