Govt must curb food inflation

The food inflation has pushed the poor and low-income people into a tight spot. Even though some essential items’ prices decreased slightly per kilogram, the rates of other items stood where they were before. In such a situation, the decrease is hardly likely to be sustainable unless the government takes steps against food inflation. The persistent high food inflation has pushed most low-and fixed-income people into food insecurity. The impact of inflationary pressure on households has led 70 percent of households to change their food habits involuntarily. High inflation has continued to erode people’s purchasing power for years and the number of the new poor has continued to rise. The past government lamentably failed to address the erratic nature of food prices on the domestic market causing food insecurity. The government took several measures, but the market remained in the hands of manipulators. The government must realize how long the people will remain constrained by inflation, syndicates, and extortion. Therefore, the authorities must prioritize the issue, ensure an adequate market supply, break syndicates, and end extortion on markets for good. The government must also enhance social safety programs to cover all vulnerable people. It is painfully evident that the specter of food inflation continues to haunt consumers, with little relief in sight. Despite efforts to curb price hikes and enforce official price lists, retailers persist in flouting regulations, leaving many cash-strapped individuals struggling to afford necessities amidst inflated power and gas bills. The onset of Ramazan only served to exacerbate matters, with reports of retailers releasing hoarded stocks of low-quality items in a drive to capitalize on heightened demand. The absence of official price lists at many outlets further compounded the issue, leaving consumers at the mercy of unchecked pricing practices.  A shortage of regulatory officials given the task of overseeing markets and retailers across the city failed to enforce price controls. Because of the lack of a sufficient workforce, retailers often act with impunity, flouting regulations without fear of repercussions. Food Inflation is a persistent rise in prices of food items that negatively affects the purchasing power of people. The Consumer Price Index (CPI) and Producer Price Index (PPI) determine the inflation rate. Food inflation has a multi-dimensional effect on everyone, and in developing countries, such as Pakistan, food inflation creates a big issue as the purchasing power of people is affected by it. Addressing the general issues underlying food inflation requires a multi-pronged approach that combines regulatory enforcement with broader structural reforms. Primary to this would be increasing the availability of official price lists among the masses to ensure accessibility. There is a pressing need for greater transparency and accountability in the supply chain, from producers to retailers, to prevent hoarding and price manipulation. The elite do not face hardship when paying their bills, while an ordinary person struggles to survive on a meager monthly salary. The greatest tragedy for poor people is figuring out how to pay their low income towards just two bills: approximately 13,000 for electricity and around 5,500 for gas. It is impossible to ignore the current situation, as Pakistan is an Islamic Republic where there should be no distinction between the elite and the common people. The inflation rate does not affect the government’s ability to put appropriate policies in place but those overriding national interest. It is the responsibility of the government to keep food inflation within reasonable levels. Food inflation is a widespread phenomenon in Pakistan as governments continue to increase prices, making the lives of common people difficult. The lack of coordination between federal and provincial governments creates room for food inflation. The increase in inflation creates malnutrition problems giving rise to health-related issues.