It is no secret that every food item from rice and eggs, to vegetables and spices is more expensive than it used to be, and many of us are left wondering when prices will go back to 'normal'. Although global food inflation has eased considerably, people in Bangladesh are facing price hike at rates not seen in decades while their wages have not gone up. This has left them struggling with debt and sacrificing the essentials. According to the Food and Agriculture Organization (FAO), food inflation has decreased to the lowest level in the world in August. But in Bangladesh, it is at its highest. Low- and middle-income groups suffer, daily wage earners only more so.
When a product's supply falls short of demand, it becomes pricier. But in our country, a dishonest section of traders create artificial crisis of products and increase their prices. In a free-market economy, the government does not have the opportunity to control the market. As a result, low-income groups are living in a precarious situation. The authorities concerned should take necessary measures to ensure adequate supply of goods and create a consumer-friendly market system. The unscrupulous traders involved in creating artificial crisis should be brought to justice. Let the law enforcement agencies also keep a close watch on the market.
Ashikujaman Syed,
Research Assistant,
Bioinformatics Research Lab,
Center for Research Innovation and Development (CRID).
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