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.
Price Rise Paragraph | Read 100, 150, 200 And 300 words Brief Paragraph On Price Hike
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.
Also Read: Paragraph On Terrorism
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.