The Prices Of Groceries are Sky-rocketing.

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Submitted: January 24, 2014

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Submitted: January 24, 2014



Godavarikhani:28.10.2013: The rise in price is certainly something that the people are very concerned about. The prices of groceries are flying across the expanse of the sky. The fast / stiff rise in price hit hard comman man who has to work every day & manage his livelyhood. Today things have changed, for buying a 1kg Onions or Tomotoes, people are required to carry carrency full of bags.

From Economic Point of View:-

This situation that imetating the hiper inflation, which took place many decades ago in Germany, is caused due to imbalance between aggregate demand & aggregate supply. Sometimes artificial scarcity is also created. This situation affects the defferent categories of people as follows:

(1) Bussiness men are benefitted from this situation becouse with rise in prices they rae in a position to sell their commodities  at higher prices & get windfall gains. These peple create scarcity of commodities by artificially hoarding them.

(2) Fixed incime group & salaried persons are hit hard by this situation becouse their income remains almost fixed but the purchasing power of their money income is reduced.

(3) Widows, pentioners and student community are also looser in a state of situation. This lowers their standard of living.

( 4) Creditors loose & debitors gain.

A slow rise in price is always conductive (helpful) to socio-economic developmant of a country because this create dynamism in the economy. But fast rise in price, as above-cited, hit hard the common man who has to work every day & manage his livelyhood.

The peple out here believes that the Government will take the initiative in bringing the prices down.

The news,as it is.


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