Inflation is a global phenomenon which is either a consequence of a booming economy or inept monetary policies of a government .Whatever the cause maybe, its effect maybe devastating, particularly outcome of food inflation.
The burning question, however, is whatís causing this price hike? Perhaps the answer to the question isnít all that straight forward but President Bush made it look just that Ė he was of the view that it is the Indiaís middle class that has suddenly become ravenous thereby resulting in consumption of more food and soaring food prices through out the world. But then isnít Bush famous for putting his foot into his mouth whenever he opens it? Or wait a minute, maybe he was trying to say that with the booming Indian economy, people now have more money to buy food than to grow it themselves resulting in high demand & scarcity of resources.
Another possible reason for inflated food prices could be the restriction of export of food crops by some countries, perhaps because of the apprehension that it might not be able to feed itself let alone others. With the demand for food ever-increasing and the restriction on export of food has made matters worse ensuing high prices in the world market.
There maybe innumerable reasons for food inflation but steps have to be taken by the government to curb it. The government of Pakistan, however, seems oblivious to the soaring prices and the difficulties that a poor man or for that matter middle class man has to face everyday in making ends meet. All its bothered about is the restoration of judges. I donít know how reinstatement of judges is more important than myriad of people dying of hunger.
Food inflation is also a threat to security. When the society is divided into Ďhaveí and Ďhave notsí, the latter is forced to commit crime as somehow they have to put the bread on the table to feed their families. They arenít to be blamed; the government is responsible for the welfare of the people. If it fails to provide them with adequate means then it only triggers insurrection resulting in loss of lives and instability in the country.
Its high time we realize that inflation is a menace to the society and needs to be curbed. Steps have to be taken now to restrain it. Otherwise, rise in oil prices coupled with food inflation could only make matters worst than ever before.