A price hike or price increase refers to an increase in the cost of products and services. When the whole demand for products and services outnumbers the total supply, prices rise. Costs of practically all necessary commodities have risen at an alarming rate during the last two decades. People have been really upset and frustrated as a result of the rising prices. Although it is unlikely to have a significant impact on those with a variable income. Those on a fixed income, on the other hand, experience the most difficulty. This is due to the fact that their earnings and wages stay unchanged while the cost of products and services continues to grow. A single paycheck is insufficient to support a family. For him, modern living necessities are becoming a luxury.

The price increase is also due to an increase in diesel and gasoline prices on the international market. The cost of transporting goods increases as the price of fuel and gasoline rises. The fundamental cause of the problem is rapid population expansion combined with a drop in vital commodity production. Furthermore, price increases are caused by dishonest merchants hoarding food and goods in order to increase profits. Flooding and transportation communications failures could possibly be to blame for the price increase. Businessmen manufacture a fictitious scarcity of food grains. As a result, the prices continue to rise day by day. Our population is rapidly rising. Our population has now surpassed 100 crores. Food grains haven’t increased in proportion to population growth.

Every year, the cost of gasoline, cooking gas, and a variety of other everyday things rises. In addition, train fares, flight fares, taxi and bus fares are all increasing on a regular basis. Essential commodities such as pulses, rice, sugar, and medicines are now out of reach for most people due to rising prices. It was once said that a poor person could survive on chapatti and dal, but now he can hardly eat twice a day. The rich make a show of their affluence, while the impoverished struggle to make ends meet. High prices also have a negative impact on the country’s exports and affect the foreign trade balance.

The government should act quickly to put a stop to it. To keep prices from rising, the government should stockpile enough food. They need to open fair shops all around the country. To penalize hoarders, strict laws must be enacted. Government authorities must check the market price of key commodities on a regular basis. To solve the situation, there is an urgent need for financial aid to the poor, as well as subsidies and increased productivity.

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