The Behavior of the Holy Prophet (Pbuh) and Imams (a.s.) Against Price Changes

The issue of pricing for commodities has been under consideration from the early days of Islam. Jurists have also different views in the problem. Some hold that pricing by the government is not permitted absolutely. Some others maintain that the government initially does not have the right to price for the commodity, but if there is an extortionate price then the government has the right to price; and other views.Since an increase in the level of prices equals a decrease in the value of money, and price changes include both relative prices and general level of prices, in this paper first, the monetary system of early Islamic community is regarded and then monetary relationship of Dirham and Dinar (Islamic silver and gold coins) and their weighty relationship are investigated. The occurrence of changes in the relative prices and the general level of prices is proved based on narrations and historical resources. The holy prophet (pbuh) frequently was asked by the companions to price for some commodities, but he severely refrained from this action, and prevented the others as well. By citing narrations and other canonical reasons it is proved that pricing is not permitted in the following assumptions:a) normal situation, b) hoarding commodities, c) exerting an extortionate price on consumers, d) selling a commodity with a price under the market price.But pricing by the government is permitted in these three assumptions: a) the increase in the prices causes public coercion, b) there occurs some more important expediencies like a martial situation, c) the government supports producer provided that he sells the commodity with a specific price.