Sudden price hike of essentials

The prices of essentials have gone up very recently due to some unknown reasons. Prices of groceries along with vegetables, fish and meat have gone up. Prices of vegetables have increased by Tk15 to Tk 20 per kg, fish and meat by Tk100 - Tk200 per kg. Inevitably, the lower and middle income people are badly affected by the sudden price hike. Businessmen argue that the recent hike of essentials is due to the gap between supply and demand, as the demands are high and available supply cannot meet the demand. Besides the price hike of meat is due to the ban on cow export from India.
It is also argued that the government's announcement of 100.0 per cent rise in the salaries of government employees have a significant role to play here. At this moment, prices of crude oil have declined in the world market and the government can take advantage of lowering the oil prices in the country to adjust the same with the world market which may to some extent help reduce the present prices of essentials. Moreover, the government can also take urgent steps to bridge the gap between supply and demand by importing goods.
Md Zonaed Emran
A Banker