Rising prices is one of the key issues which are being faced by the countries especially the one which are still developing and their economy is not that much stable. Inflation is considered to be the most accurate tool to measure the stability of the economy of any nation as if the inflation rate is high that means that prices of the various products irrespective of nature are getting higher and higher. The main issue which gets on to the nerves of the people is that if the price of any particular product is increased in the international market for supposing of Fuel which might include Petrol than the impact of this rise in price will be seen on hundreds of other products which are directly or indirectly related to this fuel.
There are so many problems which are being faced by the people due to the continuous rising of prices;
- The very basic problem is that the basic needs and requirements of the people remain unsatisfied. That means that people are unable to fulfill their basic needs due to the excessive pricing of the produces which will ultimately increase the poverty level of the state and economy of the country will be further dented.
- The rising of prices has a very significant impact on the mental condition of the people especially the one who is earning hand in the family. This mental stress and frustration can be very much dangerous as it can lead to even suicide. In the developing countries like Pakistan and Bangladesh and many more African countries, the reports are being submitted which concluded that majority of the people who have committed suicide is due to the mental pressure and retardants which is mainly caused because of the excessive rise in prices and basic needs getting beyond the affordability of the common man.
- The law and order situation is also being worsened due to the high prices of the products. The people and mainly the young people who are unable to fulfill their need just because their earning is less and the prices of the things are higher they start to get involved in illegal and unethical activities which include smuggling, stealing, theft, and drug abuse. All such people think that these are the shortcuts of earning money and through this, they can cope up with this high inflation rate of the country.
The impacts of high prices of the products is devastating and if once the administration and the governing body is given the real picture then they will get to know that how their mistakes can be fatal for the nation taking under extreme consideration the poor and needy people.
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