Fighting inflation -

The impact of inflation is getting worse day by day. Like other parts of the world, Bangladesh has been grappling with various challenges related to the ongoing inflation, which currently stands at 9.92 per cent. The overall food inflation jumped to 12.54 per cent this month, according to a report of Bangladesh Bureau of Statistics (BBS). Along with others, the businesses in the country are facing challenges due to increased product costs and various uncertainties. The price of raw material is now skyrocketing. The prices of global commodity have a direct impact on our businesses, especially on those businesses that rely on imports. The current inflation has already reduced the purchasing power of consumers. It can increase the costs of entrepreneurship as well.
The fluctuation of exchange rate can lead to higher import costs and financial instability for such businesses as are engaged in international trades. Also, high interest rates and limited access to credit may hamper expansion plans. Changing tax policies and trade agreements can create uncertainty for any business. These effects of inflation on businesses in Bangladesh can hamper our overall economic growth. The government should control inflation. The government should adopt different policies to protect common people from the suffering caused by unrestrained inflation.
Zarin Anjum Prokrity,
Student of the Department of Management,
School of Business and Economics,
North South University, Dhaka,
zarin.prokrity@northsouth.edu