Price spiral means the rise of price of daily necessaries. It is a common experience and phenomenon today in our economy. Prices rise all the time but seldom come down. It becomes difficult on the part of people to maintain their daily expenditures. Their expenditures are increasing day by day but their income does not increase at the same rate. There are various reasons for price hike. Prices may rise naturally and artificially. We have a huge and ever growing population. Our demand is always greater than our supply. As a result, our production is less than our actual cost. This situation also helps increasing prices. The most important reason is the profit motive in man. Some people want to earn money very quickly. They hoard goods and create artificial scarcity of goods in the market. In our country, the middlemen between the producer and the consumer take the lion's share of profit. The extortionists and the political parties collect money from businessmen. It makes the problem worse more and more. Smuggling and black-marketing are to be eradicated. Moreover, the middle-men in the local market are responsible for this. The government has a responsibility to check corrupt practices. Price hike creates problems to most of the people. So it should be strictly controlled for their welfare. The consumers must try to reject a commodity that is bought and sold in an unnatural price.
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