A Systematic Review of the Causes and Consequences of Price Hikes in Bangladesh

Abstract

This systematic review aims to examine the causes and consequences of price hikes in Bangladesh, with a particular focus on their policy implications.Methods: A comprehensive search of electronic databases was conducted, and inclusion and exclusion criteria were applied to identify relevant studies for analysis.Results: The causes of price hikes in Bangladesh were found to encompass global oil prices, government policies, supply chain inefficiencies, and lack of competition. The consequences of price hikes included decreased purchasing power, reduced living standards, increased poverty, and adverse effects on investment and employment. Household welfare was negatively impacted, and businesses relying on imported raw materials or energy were affected.The author concludes that to address the issues stemming from price hikes, policymakers should consider implementing strategies to control inflation, promote competition, enhance supply chain efficiency, and manage government spending. By incorporating these policy implications, Bangladesh can mitigate the adverse effects of price hikes, leading to enhanced economic stability and wellbeing.