Ask Leo: Who is responsible for inflation in the market?

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This is something that is very surprising to me as a person. From the time pass, we had inflations, we seen different types but not anything of such has ever happened before. I don't know for anyone, but for here in Nasarawa state where I stay things have really changed.

I thought that by now, the price of things would have come down to the Normal price that we know, but nothing like that has happened. I begin to imagine how people who have been feeding from hand to mouth before now, how they have been managing.

I want to talk about the high cost of rice in the market and how it has affected the people so badly. Last year by this time, we bought a measure of loca rice for #500, and that of foreign was #650 - #700. But today, we buy a measure of local rice for #1100, and that of foreign for #1400. Friends looking at the differences, you will know that the difference is much. The cost of has really gone up too much.

The real question that I am asking this morning is, "who is responsible for the high cost of things" then secondly, "when is it going to come down" everyday I ask these questions without any good answer from my left or right. But I really want someone to help explain to me so that I will know where the problem is coming from. Because if you don't know what is wrong you can't fix the problem.

This is a season of celebration that people will be buying a lot of food stuff to help celebrate with their family and friends, but looking at the high cost of things in the market, how do we think that this celebration will be? So many will be left without anything food to eat with their families and friends. I believe that if the government will regulate the price of commodities sold in the market, it will do us a lot of good. But if everyone is allowed to just wake up and add or remove the price of anything in the market, then the buyers will be left to suffer it, just like we are suffering it today. I pray that God will open the eyes of our today's leaders to do the right thing that is expected of them to save the lives of people who are dying every day because of the high cost of things in the market.

Posted Using LeoFinance Beta



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This inflation is happening globally and u share some of your sentiments. I believe we here using the blockchain are the change agents. We must not only talk but start becoming more self reliant producing food for ourselves locally. This will allow natural supply chain change and possible healing, perhaps opening up new supply chains.

Diversifying the supply or supply chain of any commodity increases competition, raises possibility of lower prices as parties competing in the market place tries to gain market share by advertising lower prices.

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