LIKE many others in the country, I am really perplexed as to how inflation keeps increasing at every level. The law of diminishing utility says that when the demand decreases, prices of commodities decrease too. But in our case, when the rupee gets stronger against international currencies, the consumer prices still rise.
Name anything under the sun, from basic essentials to construction material, nothing has witnessed a decline in price. Even the laboratories have increased their charges by 25 per cent. Is there anyone who is keeping a check on prices?
Akbar Merchant
Karachi
Published in Dawn, March 2nd, 2021
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