September 16, 2022 | Investopaper
Nepal Rastra Bank (NRB) has published the report on ‘Current Macroeconomic and Financial Situation of Nepal (Based on First Months’ Data Ending Mid-August, 2022/23)’. As per the latest report, the e y-o-y consumer price inflation stood at 8.26 percent in the first month of FY 2022/23 compared to 4.35 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 7.11 percent whereas non-food and service inflation stood at 9.18 percent in the review month. Under the food and beverage category, the prices of ghee & oil, fruits, restaurant & hotel, alcoholic drinks and milk products & eggs sub-categories rose by 19.58 percent, 18.79 percent, 11.84 percent, 10.24 and 10.19 percent respectively on y-o-y basis.
Likewise, under the non-food and services category, the prices of transportation, health, furnishing & household equipment, education and housing & utilities sub-categories rose by 23.88 percent, 10.54 percent, 9.04 percent, 8.11 percent and 7.86 percent respectively on y-o-y basis.
In the review month, the Kathmandu Valley, Terai, Hill and Mountain witnessed 7.39 percent, 8.72 percent, 8.64 percent and 6.64 percent inflation respectively. Inflation in these regions were 3.70 percent, 4.11 percent, 5.63 percent and 3.58 percent respectively a year ago.
The y-o-y wholesale price inflation stood at 12.58 percent in the review month compared to 4.25 percent a year ago. Likewise, the y-o-y salary and wage rate index increased 11.06 percent in the review month. Such a growth rate was 5.05 percent a year ago.