Unacceptable Failure to Control Food Inflation – New Age
It’s frustrating to see that the government’s efforts to combat inflation haven’t been successful. In November, inflation rose to 11.38%, up from 10.87% in October. Food prices have reached record highs as well, with urban areas seeing a 14.63% increase and rural areas experiencing a 13.41% hike. This persistent food inflation has been a major concern for many, especially low-income individuals who were hoping for more effective measures from the government.
Unfortunately, the situation hasn’t improved and prices have continued to rise since the interim government took office in August. Prices of essentials like rice, vegetables, eggs, and chicken have all increased dramatically. The government has tried to address these issues by ramping up market oversight, increasing imports, reducing duties, and even setting prices for some goods. Special task forces have been established to monitor and evaluate market conditions.
Despite these efforts, food inflation remains a substantial problem. Business cartels continue to manipulate markets, hindering the effectiveness of government interventions. The World Bank’s recent food security update even placed Bangladesh in the red zone due to high food inflation, pushing many low-income families into food insecurity.
It’s clear that more action is needed to tackle this issue. The government must step up its market oversight, dismantle cartels, and address supply chain issues. Stronger measures are necessary to curb inflation, especially when it comes to food prices. It’s crucial for authorities to take decisive action and prioritize the well-being of all citizens by ensuring food security for everyone.
