Inflation has been a major concern in the current economic climate, affecting everything from groceries and gas to housing and utilities. As price rises,many household areas struggling to keep up with the increasing in cost of living. Businesses are also feeling the pressure,as higher cost of raw materials and wages are impacting their profits.
While government and centre Banks attempt to control inflation through interest rate adjustment, consumers continue to seek way to manage their budgets effectively.
Do you think Government policies are helping or hurting the situation? Why?
What strategies have you used to cope with rising price??
The government and the Central Bank always try to keep the prices of commodities under control, but there are some unscrupulous traders who syndicate and increase the prices of commodities every day. If the people are not aware of this, it is not possible for the government and the Central Bank alone to control the rise in prices. I think if the government enacts strict laws and arranges for market monitoring, it will be able to keep the prices of commodities under some control.