The Haunting Impact of Rising Prices on the Common Man

The prices of essential commodities such as milk, spices, vegetables, pulses, edible oil, non-vegetarian items, eggs, and grocery items have been increasing steeply over the past few months. This has been causing significant financial difficulties for lower middle income and economically weaker families. The rise in fuel prices has already made life difficult for these families, and the increase in the prices of basic necessities has only added to their burden. Unfortunately, market analysts, farmers’ associations, shopkeepers, and traders predict that the upward trend in prices will continue.

Market Analysis

The traders at Asia’s largest Azadpur Mandi claim that they have been receiving vegetables and fruits at higher rates, leaving them with no option but to sell them to wholesalers and retailers at increased prices. Moreover, there is a gap in supply, even during peak seasons, due to various reasons. Similarly, Khari Baoli, Asia’s largest wholesale grocery and spice market, has also been facing a similar situation, where traders have been affected and are left without any remedy.

The Consequences

The increase in prices of essential commodities has forced families to avoid many items in their menu, and the worst affected are the lower-class families. Many people are now looking for low-priced items and inquiring when the prices will come down. Market surveys reveal that prices of pulses like Arhar Dal are hovering between Rs 150 and 190 per Kg in the retail market. Additionally, the price of mustard oil varies between Rs 170 and Rs 190 per litre in Delhi’s retail markets, while garlic has crossed the Rs 160 per kg mark.

Reasons for Price Hike

The analysts claimed that, besides poor supply, there were other factors which have hit the market hard. Faulty supply-chain management, increased cost of production, global inflation, less space for cultivation, less production due to improper rain, improper management and distribution, hoarding, and an increase in the demand for food and green vegetables are all responsible for the price rise.

Impact on Daily Wage Workers and Low-Income Families

Residents of low income and those working on daily wages are the ones who have been greatly affected by the rising prices of essential commodities. The average person is not only impacted by the escalating costs of daily necessities, but also by the rising costs of LPG, gasoline, and other fuels that drive up the expenses of the items’ transportation.

Insight

The rise in retail inflation tends to hurt the poor and lower middle class badly, as it affects the price of essential commodities that are consumed by all. For this problem to be solved, government intervention is required. The income of most people has remained unchanged, while the cost of living is increasing day by day. It is high time for the authorities to take concrete steps to minimize the people’s woes by introducing policies that will reduce the burden of the rising prices of essential commodities on the common man.

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