Inflation At 7.38 Percent

January 16, 2023 | Investopaper

Nepal Rastra Bank (NRB) has published the report on ‘Current Macroeconomic and Financial Situation of Nepal (Based on Five Months’ Data Ending Mid-December, 2022/23)’. As per the latest report, y-o-y consumer price inflation remained at 7.38 percent in mid-December 2022 compared to 7.11 percent a year ago.

Global rise of fuel and food prices, supply chain disruptions and devaluation of Nepalese currency with US dollar contributed to build up inflationary pressures.

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Food and beverage inflation stood at 5.85 percent whereas non-food and service inflation rose to 8.59 percent in the review month. Under the food and beverage category, y-o-y consumer price index of restaurant & hotel sub-category increased 15.56 percent, tobacco products 11.81 percent, cereal grains & their products 9.39 percent, milk products & eggs 9.07 percent, and alcoholic drinks 8.84 percent.

Likewise, under the non-food and services category, y-o-y consumer price index of transportation sub-category increased 17.33 percent, health 11.22 percent, recreation & culture 8.76 percent, housing & utilities 8.29 percent and furnishing & household equipment 8.29 percent.

In the review month, consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain remained 6.56 percent, 8.00 percent, 7.32 percent and 6.48 percent respectively. Inflation in these regions were 5.91 percent, 7.52 percent, 6.95 percent and 4.91 percent respectively a year ago.

The y-o-y wholesale price index increased 9.15 percent in the review month compared to 7.22 percent a year ago. Similarly, the y-o-y salary and wage rate index increased 9.73 percent in the review month. Such growth rate was 6.53 percent a year ago.


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