Addressing the inflation crisis

Inflation has been a persistent challenge for several years, with no apparent end in sight. Recent reports indicate that overall inflation in the country has consistently remained above 9.0 per cent, significantly outpacing the income growth of average citizens.

The high inflation rate is making life increasingly difficult for the common people. Various organisations, including the National Directorate of Consumer Protection, are actively monitoring the market to maintain stability. Despite these efforts, commodity prices continue to rise, with recent events exacerbating market volatility. Sudden halt to imported goods has forced the country to rely on existing stock and the supply chain was disrupted. The government's biggest challenge now is to control prices and stabilise the market.

The pressing question is: How effectively can the government address this issue? Inflation has become a significant obstacle to Bangladesh's development, raising the cost of living and affecting social well-being. The market remains unstable, and consumer distress is growing, particularly among low-income people.

The government has prioritised maintenance of prices of essential goods within a reasonable range. However, market experts have repeatedly pointed out that government intervention alone cannot curb inflation. There are multiple factors behind the rising prices, and it is crucial to identify and address these root causes.

To mitigate the ongoing crisis, measures must be taken to prevent further price hikes. The government has been active in trying to control prices, but more needs to be done to ensure that essential goods are accessible to the common man. It is crucial to stabilise the market in order to provide relief to the public and restore their purchasing power.

The government has managed various challenges including political opposition and international pressures. Now, the focus should shift to ensuring the operation of market in an effective manner so that products are readily available. Only then can we hope to alleviate the burdens of inflation and improve the standard of living for the people of Bangladesh.

Shahriar Hasan

Motijheel, Dhaka