Mobile Helps to Monitor Rising Food Price

Global inflation has evoked global protest, and even caused riots in many countries. The most vulnerable countries are Mexico, Haiti, Egypt, Italy and India. People are quite frustrated with the rising price of essential commodities. Governments try to check the price by different methods. In Italy people have found a unique yet novel way to counter the problem so that they can reduce some of their worries. If Italians feel that their local food retailer is charging unreasonable prices, they can now call on a new service to help them haggle or walk: a mobile SMS that tells them the different prices in the different prices in the different areas of Italy.

The Italian agricultural ministry and consumer association of Italy set up an a SMS system jointly to check the average price of different foods in northern, central and southern Italy. Luca Di Maio, a consultant for the Consumer Federation in Rome, says the new mobile SMS system lets the consumers type the name of the food product they want to price check into their mobile phone and send a free text message to a number, after a few seconds the consumer will receive an SMS that will tell them the different prices in the different areas of Italy.

According to a research by the ‘ The Economist', markets are more efficient when you have more information. Through mobile phones awareness can be created faster than any means. The markets are more efficient when people have more information. Suppose if one is in a supermarket and there's a price for cauliflower and that's the only piece of information one has, he has naturally no idea whether he should be protesting by not buying it.

For supply and demand to work at its best, consumers need to be able to compare different prices from suppliers on the spot, something the texting service and other like it should help make easier. There is no other cheaper and easier mode of communication medium than a mobile phone. Mobile phones are easily accessible to people and these are inevitable part of one's life. Therefore, through mobile phones communication can be easily generated to different parts by just giving some time for a simple SMS.