Those who raise prices are bound to lower them

The important phenomenon that fools customers in connection with the rise in prices is that once the price gets hiked, it will not come down. In a general price hike, the price of all commodities in the market increases. It will stay that way for a while. In the meantime, the conditions that fuel the price hike may change. Naturally, prices of commodities should also come down accordingly.

Restaurants are the ones who really cheat the customers in the name of an increase in prices. When the price of goods increases, the price of restaurant food also increases. Customers do not question it as the trend of rising prices prevails. However, after raising prices once, the restaurant owners do not show any interest in reducing the prices even if the price of the goods comes down considerably. The public has only the role of spectators when it comes to such matters. Those who are in charge of the food department should intervene in the issue. However, they will never interfere in such issues. For example, the price of chicken, which has become one of the favourite foods of the Malayalis, is always volatile. The price will go up on special occasions. The restaurants will then start charging the maximum price for chicken dishes. Even if the price of chicken decreases after the season, the prices charged in the restaurants will remain exorbitant. The other day, we published some examples of how consumers are being cheated when it comes to the prices of chicken dishes. No one is saying that one should not make a profit from one's business. However, doesn't everything need some regulation? Aren't there laws and regulations here to prevent the ruthless exploitation of consumers? Yet one would wonder why those in charge are not stepping up.

Onam season is coming up. This is the time when the market usually wakes up tenfold. A new wave of inflation will also come along. Prices of everything will reach a new high. The price rise in the market will make all regulatory measures irrelevant. The recent hike in chicken prices can be seen as a ploy of the chicken traders in anticipation of Onam. Everyone knows that Tamil Nadu traders control the market in such matters. How can government agencies effectively intervene when the prices in the agencies that are supposed to be exemplary are higher than in the public market. Coconut oil from state-owned mills commands the highest price in the market even as the price of coconuts plummets. Fake coconut oil is being sold in large quantities across the state.

The prices of all the daily use items are increasing due to the GST reform. There are no big protests against price hikes like in the past. It seems as if the people have lost their interest in petty protests organised by politicians.

Just as restaurants increase the price of their food when the market price rises, they should also show their willingness to decrease the price of food when the price falls.