KATHMANDU, Oct 17: Nepal Rastra Bank (NRB) has published the current economic and financial situation of the country based on the data of the first two months of the current fiscal year 2023/24.
According to the NRB’s economic status report, inflation based on consumer price index has reached 8.19 percent on an annual point basis until mid-September. The government aims to keep the price increase within the desired limit of six and a half percent in the current fiscal year.
Revised interest rate corridor system introduced
The data of NRB up to mid-September shows the price increase of 45.46 percent has been in spices. Similarly, the prices of sugar and sugar products have increased by 17.86 percent, vegetables by 14.51 percent, food and food products by 13.38 percent, and dairy products and eggs by 12.60 percent. During this period, the annual point price index of the ghee and oil subgroup decreased by 13.08 percent.
Under the non-food and services group, the annual point consumer price index of entertainment and culture sub-group is 15.55, miscellaneous goods and services is 12.21 percent, education sector is 9.10 percent, household goods is 8.11 percent and furnishings and household appliances increased by 6.59 percent. By mid-September, the inflation in the transport sector had decreased by 0.18 percent.
During this period, the inflation rate of Kathmandu Valley is 9.83 percent, Terai is 7.03 percent, Hilly region is 8.09 percent and Himalayan region is 11.32 percent.
