The rate of inflation and the lies of the government.

 

 

 

 

In my last post, I focused on inflation rate and its bad effects on us and also on our economy. I also focused on an important issue how a toxic group of people is benefiting because of shortage of knowledge of our people about inflation. And this issue obviously have a long term bad effect on a developing country like Bangladesh. I posted that article on some several blockchain based social media platform and got some important and valuable feedback in comment section. Most of the users who interacted with me in that post have been showing the inflation rate of their country. Some of them focused on inflation about some particular sector, some focused on inflation estimated overall. 

 

 

 

But the main reason that I have been interested to write this article is that in most of the countries the government of the respective country try to hide the real inflation of them. That's why I have seen there is noticeable difference margin of inflation rate of same country and obviously the inflation rate estimated privately is higher than the inflation rate estimated by government. And if I focus on public feedback from their real life about inflation, the inflation rate is too much higher than even private estimation, let alone government estimation. I am surprised that if general people's feedback become true about inflation, then it is matter of deep thinking whether government pressurize the private organisations to show inflation rate lower than real estimation. 

 

 

Basically I never believe in government estimation or any statistics not only about this inflation but also about any issue. I always see some trustable source of private estimation. But truly to say, I also find some noticeable difference in daily goods in our country. Such as, the rate of soybean oil is 135 BDT per kg by government estimation. Some private estimation shows that it is now 160 BDT per kg in market. But today I have bought soybean oil 175 BDT per kg from open market. This rate was 90 BDT per kg in previous year estimated by myself, by private estimation it was 82 BDT per kg,  and by government estimation it was 75 BDT per kg. Now you can see the differences about that three sources. 

 

 

But I am really confused why the government from any country try to hide the real inflation rate from us. Why they fear at showing real inflation to their people? It is sure that they have to face some problem if the real inflation rate being exposed, but it is also have to remember that if people become aware of real inflation rate and be conscious about it, our economy must be heavily benefited. I am not a student of economics. But my little knowledge tells me it must be good to show the real inflation to general people of a country. 

 

 

Thanks for visiting me. Keep interacting.