Price hike means rise in prices of essential commodities. It is common phenomenon in our country. The prices of essential commodities are increasing by leaps and bounds. Indeed, price of daily commodities has gone beyond the reach of the common people. There are many causes of price hike. Insufficient supply of daily commodities is mainly responsible for price hike.

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Our population is increasing rapidly, but our food production is not proportionately. For this, we do not get enough food in comparison to our increasing demands. Moreover, frequent natural disasters like flood, drought, cyclone, etc. Hamper our food production, which accelerates the price hike of essential food items. On the other hand, hoarding is another important factor of soaring price level. Some dishonest traders devoid of morality hoard essential goods and create artificial shortage in the market. Then they sell the goods at higher price.

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Political unrest like strikes is also responsible for a surge in price. Lack of market supervision, black marketing and smuggling also contribute to price hike. The phenomenon has increased the suffering of the common people. The poor and the middle class are mostly affected by it. But, the worst sufferers of it are those who live from hand to mouth.

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They find it hard to feed their family members. Some of them remain half-fed. As a result, they suffer from malnutrition. Unusual price hike hampers the economic balance of a country. The government should take effective steps to tackle the situation, most notably by increasing food production. Each and every shop must have a price chart fixed by the government.

The law enforcing agencies should be deployed in the market places to monitor the market price. Legal actions must be taken against the dishonest businessmen and hoarders. Actually, people of all walks of life should also co-operate with the government.

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(a). What is price spiral?

(b). Why does price of things Increase?

(c). How do we suffer for price hike?

(d). How can we control it?

(e). What should we do to stop it?

Price spiral means the rise of price of daily ne necessaries. Today price spiral is a common phenomenon in our economy. The price of essential commodities is increasing by leaps and bounds. The causes of price spiral are many. Hoarding is one of the important factors for soaring price level. People hoard the essential commodities with all ill motive and as a result there is break down in the supply.

Smuggling and black-marketing are also important factors that cause price spiral. Essential commodities are always being smuggled across the border. Shortage of supply due to low production also accelerates the price-hike of essential goods. Our population is increasing in geometrical progress. While the supply of food increases in arithmetical progress.

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For this the supply of goods is very scanty in comparison to our demands. However efforts should be controlled. Smuggling and black-marketing are to be eradicated. Adequate supply of essential commodities is to be ensured. And last of all government should launch programme to tackle the price spiral problem.

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