Price hike means the unusual raise of the necessary things. The abnormal rising in prices of daily fundamental commodities can be defined as a price hike. There are many causes of the price hike. The price of daily commodities is rising very fast. The most common and first price hike occurs because of natural disasters. There are many reasons for the price hike in various conditions. A short supply of commodities is one of them. The 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 general in them. Money inflation is also a critical cause of it. Hoarding is another cause of price hike. Many people store goods with a view to earning a profit. The fraudulent businessmen generate a false crisis of food grains. Besides, most often some dishonest and greedy businessmen generate an artificial crisis in the market to make unlawful earnings. This causes a deficiency of supply. As a result, there occurs a price hike. It causes untold suffering to the poor and the middle category of people. The poor and the day laborer are the most horrible sufferers of a price hike. Some of them remain half-fed in this situation. As a result, they undergo from malnutrition.
However, the unusual price rise causes intolerable sufferings to the people. The effects of the price spiral are beggar description. General people cannot lead a standard life. Mostly the poor and the middle-class people are the most terrible suffering for it. Many people cannot buy daily necessaries. The price hike causes corruption. Political trouble like strike/hartal also causes a price hike for the time being. But we can prevent this problem by taking some effectual measures. It has an alarming outcome in our life and the general economy. To overcome the primary problem, the rich and the business class should come forward to make sure the appropriate allocation of the commodities.
We must cheek our tendencies of earning a surplus profit. Again, law enforcement agencies should take punitive action against the greedy businessmen and black marketers. Smuggling and black marketing should be cheeked. The corrupt businessmen and the hoarders should be punished. They should maintain the supply of essential commodities at a suitable level. Mass media can also play an imperative role in condense this issue. The government also should take essential steps to solve this problem. The government should ensure the supply of necessary goods to manage price hike. Import of essentials was encouraged by the government through tax-cuts. The government should also observe the prices of various things.