As soon as a new pay scale or a government salary increase is announced, there is a tendency for the prices of daily necessities to rise in the market. The main reasons include increased demand due to a higher money supply in people's hands, the creation of artificial shortages by unscrupulous traders, rising production costs, and inflationary expectations.
Experts say that when wages increase, people's purchasing power rises, leading to higher demand for goods. If supply does not increase proportionately, prices go up. Unscrupulous traders often try to make extra profits by raising prices in advance following news of a salary hike.
They also said that other costs-such as transportation and rent-usually increase with the introduction of a new pay scale, which directly affects commodity prices. Moreover, a psychological inflationary effect is created in the market following wage hikes, contributing to price increases at the retail level.
As a result, even when wages rise, ordinary people cannot fully benefit, as the cost of living also increases proportionately with higher prices of daily essentials.
Md Adnan Arif Salim, a private service holder, said, "It was necessary to reduce the prices of daily necessities along with the announcement of the new pay scale. Increasing salaries without controlling inflation is nothing but a hasty decision. Government employees may celebrate the new pay scale, but the reality is different for others."
"If I say anything against it, people may start shouting. But my fear is that if salaries increase by one taka, the price of goods will increase by one and a half to two taka. Moreover, salary hikes will not benefit everyone equally-it will help only a select group," he added.
He further said, "It is also important to consider how people whose salaries will not increase will cope with the new inflation. Government officials and employees may criticise me, but I am stating the reality."
Meanwhile, only a month remains before the start of Ramadan, yet prices of various products have already started increasing in the market. Items that see higher demand during Ramadan are particularly expensive, including chickpeas and sugar. Over the past few days, prices of these two essential commodities have shown an upward trend.
Sellers said that although there is no supply shortage, wholesale prices of chickpeas and sugar have increased, affecting the retail market. Retailers allege that a section of traders is increasing prices by taking advantage of higher Ramadan demand.
However, the price of local onions has declined due to the peak harvest season. Prices of vegetables and farm chicken eggs have also fallen, though broiler chicken prices have increased.
These scenarios were observed after visiting several retail and wholesale markets, including Rampura, Malibagh, and Segunbagicha in the capital on Friday, and speaking with buyers and sellers.
During the market visit, it was found that chickpeas are now being sold at Tk 100 to Tk 110 per kg. A week ago, chickpeas were available in the retail market for Tk 90 to Tk 100 per kg.
Enamul Haque, a grocery shopkeeper at Rampura Bazar, said wholesalers had increased chickpea prices, which subsequently affected the retail market. "However, there is no shortage of supply," he added.
The same situation applies to sugar prices. Despite normal supply compared to last year and stable international prices, local market prices have increased. Sources said that a month ago, packaged sugar was sold at Tk 100 to Tk 105 per kg. Now, prices have been raised to Tk 105 by all supplying companies. Loose sugar, previously sold at Tk 100 to Tk 105 per kg, is now unavailable for less than Tk 110.
A buyer, Al Amin, said traders have made it a habit to raise prices of high-demand products during Ramadan. "It happens every year, and this year will be no exception," he said.
Despite rising prices of chickpeas and sugar, onion prices have eased. New domestic onions are now being sold at Tk 50 to Tk 55 per kg, while most onions available in the market are locally produced. Some imported Indian onions, however, are still selling at Tk 70 or more per kg.
Meanwhile, after remaining stable for several months, chicken prices increased by Tk 10 to Tk 15 per kg last week and have remained at that level. Broiler chicken is now selling at Tk 170 to Tk 185 per kg, while Sonali chicken prices have risen from Tk 270-280 to Tk 290-300 per kg.
Farm chicken egg prices, however, remain unchanged. Brown eggs are selling at Tk 110 to Tk 115 per dozen, while white eggs are available for Tk 100 to Tk 105 per dozen.
Prices of winter vegetables increased over the past two weeks but have slightly declined again. Cauliflower prices have dropped from Tk 50 to Tk 35-40, while cabbage is selling at Tk 30 to Tk 35 per piece. New potatoes are priced at Tk 30 to Tk 35 per kg, depending on quality and market.
Beans are available at Tk 40 to Tk 60 per kg, brinjal at Tk 50 to Tk 70 per kg, and tomatoes at Tk 50 to Tk 80 per kg, depending on quality. Other products are being sold at previous prices.
