The price hike has now become a very common problem not only in Bangladesh but also all over the world. In this price hike paragraph, we will highlight some. Protests fueled with rage prevailed even just a few weeks ago when the price of onions in Bangladesh reached such level that even the rich people were afraid to buy it, let alone the poor people. Do we have a choice at tackling such a high growth of price? What should we even do? Well, there isn’t much we can do. Knowing about why price hikes occur should be essential to understand the scenario.
Price Hike Paragraph
To be frank, people in our country would find it as normal nowadays: the lasting effects of price hike in our country. It spans from foods to accommodation, education, health treatments, etc: in short, all the necessities for the citizens. Developing countries like Bangladesh have countless middle income and poor people struggling to provide bare necessities for themselves and their families. Needless to say, the situation tends to be much worse when the price of goods increases abnormally.
As per the trend in the economy goes, a tendency to slowly increase in the price of goods is normal. This is called inflation, where the price of all things slowly increases with time. When the value of money decreases, the price of goods will always go up. As inflation is inevitable in every country to a smaller degree, a fluctuation of price from time to time seems normal. However, the price hike is quite different, as it means not the price growth of everything, rather a higher increase in the price of a single product or service. So, knowing about how it happens should be necessary.
Abnormal price hike tends to happen for numerous reasons. The real scenario of Bangladesh needs to be carefully understood in order to understand the abnormal price hikes. Demand for basic necessities is always constant, so when the supply of goods gets lower, the sellers increase the price. Worse, the shortage of supply is often caused intentionally to hike the price and to gain more profit. Syndicates of suppliers and sellers decide to create a shortfall. Most of the time, it happens because of poor government regulation.
Corruptions of such levels get unpunished many times, which fuels the continuity of the works. The shortage of supply in the entire country is also a reason. When the local production gets hit and the imports decrease, the short supply needs to be dealt with the perfect regulation. In short, the lack of proper control in selling the supply of goods is the key issue most of the time.
That explains the increase in the price of products. Moreover, the increase in price in services like education, treatment, accommodation, etc happens because of major growth in inflation. Price hikes play contributing factors too. Whenever total expenditures increase, prices increase to maintain profits. Needless to say, inflation and price hike affect each aspect of our demands accordingly.
Effects of price hike falls mostly on the poor and middle-income people of anywhere. We would find it on the things we need in our daily life. Price hikes of basic foods will not leave people looking for options, as strong habits of consumption do not change much. Rather, the poor people will consume less, making them suffer more. They get forced to choose worse alternatives when the price reaches beyond the capability.
Price Hike Paragraph For JSC Exam
Bangladesh is facing many problems. Price hike is one of there. Price hike means the unusual increase of price of goods. It is a Common problem in our country. It is making our life difficult and miserable. Specially poor and middle class people who hare limited income are suffering a lot for it. There are many causes of price hike. Shortage of necessary goods, transportation system, natural calamities, dishonest businessmen and global price hike and inflation are responsible for price hike. Due to price hike many people have to starve. Many lead an inhuman life. It makes the rich richer and the poor poorer. If this problem continues, our life will be at stake and different kinds of crimes usually occur. Corruption and moral degradation will spread everywhere. Some steps should be taken to control price hike. To get rid of this problem, government should take necessary steps. Businessmen also should come forward to ensure proper distribution of commodities. Finally, all of us should come forward to solve the problem.
Finally we would like to conclude our price hike paragraph focusing on some major points that it affects a country in its core of consumption. It makes people suffer, and the only authority to impose any control over it is the government. If we do not take proper steps as a nation, the lack of proper guidelines and rules will create more instability and hike prices in even more dangerous states in the days to come.