Inflation: The Social Monster Socio-Economic and Psychological Impacts of Inflation and Price Hike on Poor Families of District Malakand, Khyber Pakhtunkhwa, Pakistan

International Journal of Business and Social Science Vol. 2 No. 14

11 Pages Posted: 12 Jun 2012

See all articles by Arab Naz

Arab Naz

affiliation not provided to SSRN

Hafeez-ur-Rehamn Chaudhry

affiliation not provided to SSRN

Mohammad Hussain

affiliation not provided to SSRN

Umar Daraz

affiliation not provided to SSRN

Waseem Khan

affiliation not provided to SSRN

Date Written: June 12, 2012

Abstract

Inflation and price hike is one of the hazardous aspects in the social and economic spheres of individuals that are persevering to vacate the roots of social stability and development of the subject masses. This study describes the socio-economic and psychological impacts of inflation on poor families, which was conducted in District Malakand, Khyber Pakhtunkhwa province of Pakistan. Data was collected from 280 respondents categorized in different segments with dis-proportionate stratified random sampling technique using interview schedule. The data has been analyzed by applying Chi-square test and processed in the form of tables and bar-charts, while discussions have been made on the basis of findings and results. The results show that inflation as a social monster has multidimensional impacts upon the social, economic and psychological spheres of poor families, which paralyze their overall development. The study suggests that general mass awareness, proper policy making and implementation, strict punishment to the culprits and hoarders, and lucrative utility of mass media are inevitable and can play a vital role in eradication of the evil of inflation and price hike.

Keywords: Inflation, Price hike, Poor families, Social monster, Impacts

Suggested Citation

Naz, Arab and Chaudhry, Hafeez-ur-Rehamn and Hussain, Mohammad and Daraz, Umar and Khan, Waseem, Inflation: The Social Monster Socio-Economic and Psychological Impacts of Inflation and Price Hike on Poor Families of District Malakand, Khyber Pakhtunkhwa, Pakistan (June 12, 2012). International Journal of Business and Social Science Vol. 2 No. 14, Available at SSRN: https://ssrn.com/abstract=2082991

Arab Naz (Contact Author)

affiliation not provided to SSRN ( email )

Hafeez-ur-Rehamn Chaudhry

affiliation not provided to SSRN ( email )

Mohammad Hussain

affiliation not provided to SSRN

Umar Daraz

affiliation not provided to SSRN

Waseem Khan

affiliation not provided to SSRN

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