Paragraph on Price Spiral

Price spiral refers to the unusual increase in the prices of everyday things that we need. Nowadays, this is a common problem in Bangladesh. When the cost of essential items suddenly goes up and people can't afford to buy them, we call it a price hike or price spiral. Every day, the prices of many necessary things keep going up. There are several reasons for this. The rapid growth of the population, hoarding, and the black market are the main causes of price hikes. Other factors include market manipulation, natural disasters, limited land for farming, a shortage of supplies, inflation (when money loses its value), and political problems. Some dishonest and greedy businessmen also create a fake shortage of goods to sell them at higher prices. This leads to a price hike. The increasing prices affect everyone, but the poor and the middle class suffer the most. Children also suffer because they can't get a balanced diet. To solve this problem, the government should set up a monitoring group and be ready to import essential items during times of crisis. They should encourage the growth of high-yield crops. It's also important to control inflation, crack down on the black market, and address political unrest. The law enforcement agencies should take strict action against businessmen and black marketers who are causing harm.